- After a long time of teasing the community, bitcoin has finally broken above the $10,000 mark.
- This is the first time it has crossed such a milestone since February this year and is seeing many investors positive and optimistic for the future.
After a long time of teasing the community, bitcoin has finally broken above the $10,000 mark. This is the first time it has crossed such a milestone since February this year and is seeing many investors positive and optimistic for the future.
But how long will BTC be able to stay above such a key resistance level? Well, in order to make sure that the leading cryptocurrency can support itself up above this price point, it will need high resistance. Many analysts believe that this will happen though including the well-known hedge fund manager and bitcoin advocate, Michael Novogratz.
Just early this week before BTC crossed the $10,000 line, Novogratz took to Twitter saying the following:
$BTC is coiling. It will take out 10k soon. All the tragic turmoil in the USA adds to the narrative. Budgets are going one way and it’s the opposite of balanced. When 10k goes it will move fast. Get on the train.— Michael Novogratz (@novogratz) June 1, 2020
Over the past week also, there has been significant unrest throughout the world and United States following the killing of George Floyd by a Minneapolis police officer. In order to restore order in the country following riots and looting going on in major cities all over the nation, the United States president, Donald Trump has threatened to bring in the military in order to restore the peace. But would that bring true peace?
These protests and riots have tainted the black lives matter movement as many peaceful protesters have been overshadowed by other organisations and outside sources looting big cities and High Streets. Either way, it does not offer a long-term solution to the problem of systematic racism in the United States. Analysts on bitcoin have taken this time to promote economic reform through the leading cryptocurrency. One good example is Anthony Pompliano who took to Twitter earlier today to say the following:
Buying Bitcoin is the most peaceful protest against the legacy system.— Pomp 🌪 (@APompliano) June 1, 2020