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Bitcoin is approaching $12,000

Jun 25, 2019 Forex News

The largest cryptocurrency continues to trade at a 15-month high, approaching the $12,000 mark.

On Tuesday, June 25, the Bitcoin rate rose to $11,400, the market capitalization exceeds $201.17 billion.

Many analysts still believe that a surge of interest in BTC was due to the appearance of information about the forthcoming Libra in the media. The Token Libra is supposed to become a global payment instrument and will be used to bypass the traditional banking system.

These reports provoked sharp investor interest in the blockchain industry and caused a rise in the value of digital assets.

However, in the crypto-community, many analysts and traders doubt that Bitcoin will be able to rise in price to $12,000. They are more restrained and even allow small rollbacks before it can take new heights.

The analyst under the nickname Bagsy tweeted a post in which he announced a decrease in Bitcoin after reaching the mark of $11,500.

In his opinion, the result of a negative correction will be a descending of the asset rate to $8500, but after that a bounce to $13,800 is possible. At this level, Bitcoin will be traded around the end of October.

Bitcoin optimists don’t believe in the possibility of such a significant drop, but they admit that even if the coin drops below $10,000, aggressive purchases will soon resume in the market and the BTC will be boosted above $12,000.