US Stocks and Bitcoin Surged...Max Kaiser "The cryptocurrency can break USD 20000"
US stocks climbed last night thanks to the news about Covid-19 vaccine and the rise of tech stocks, including that of Microsoft(MS), trying to acquire TikTok.
On 3rd(ET), the Nasdaq Composite Index closed Monday's session at 10,902.80, increased 1.27%, hitting a record-high. Dow Jones Industrial Average 30 Index traded at 26,664.40, advanced 0.89%, and S&P 500 Index ended at 3,294.61, rose 0.72%. US blockchain stocks surged 6.78%.
Bitcoin(BTC) showed an upward trend, recovering the USD 11,4000 level. With the rise of BTC price, the gap between USD 11,630 and USD 11,350, occured at the Chicago Mercantile Exchange(CME), was filled. CME's Bitcoin futures price was topped USD 11,690.
"If Bitcoin can keep the strong support line, USD 10,500, its upward trend can be continued. But, if BTC fails to rally at the USD 11,500 level until earlier this week, its price can be fallen. If the cryptocurrency rallies, it is likely to test USD 12K," anticipated Neo, an analyst of OKEx.
"If BTC bulls maintain the supporting line between the USD 10,800 and USD 10,400, BTC can rally at USD 12,113.50. If BTC breaks above the price, the cryptocurrency can show upward movement," suggested Rakesh Upadhyay.
"USD 12K can be critical for BTC to gain momentum. For next bull run, BTC has to consolidate around the level of USD 12K," tweeted Vinny Lingham, the co-founder and CEO of Civic.
"If you are short, you need to come back down to earth. In the current macroeconomy, bitcoin short means long," pointed out Qiao Wang, a renowned analyst who've been in Messari, on his twitter account.
"Bitcoin can reach the USD 20K without a resistance. A brief pullback can be seen at the USD 28K, then Bitcoin will gain momentum to record USD 100K," reported Cointelegraph, citing Max Keiser, the founder of Heisenberg Capital and presenter of Keiser Report.
Michael Novogratz, a billionaire and the Chief Executive Officer of Galaxy Digital, expressed his optimistic view on BTC, saying that "BTC price would record USD 14K within the next 3 months, and reaching USD 20K by the end of 2020, due to the global liquidity pump and an influx of retail investors".