The largest cryptocurrency was able to restore and crossed the $8,000 mark.
Now Bitcoin is trading at $8,360, which inspires optimism to some traders. They believe that the current location of the BTC may signal the early start of a slow ascent to a new height.
Such a psychological frontier could be a mark of $10,000, which Bitcoin must break through in July.
One of the supporters of such a scenario is the analyst and trader, known as Cred on Twitter. He is sure that now Bitcoin is trying to overcome the resistance. As soon as it is broken, the coin will be able to witness a more confident growth of the BTC rate during the coming month.
However, there are skeptics who believe that Bitcoin is unlikely to break the resistance. For example, analyst and trader Josh Olszewicz predicts the continued dynamics of the weakening of the coin, which could result in a drop to $6,400.
In his opinion, the market hasn’t yet emerged from the “bearish” moods dominating the stage and it is not clear when such an exit will occur. But the optimist Cred is supported by another Cryptomist trader, who believes in the imminent transition of the market to the green zone.
Bloomberg analyst Aaron Brown partially supports the forecast of Bitcoin-optimists but believes that the new rally of the largest cryptocurrency will be qualitatively different from its previous spurts, as the market has become more mature and stable.