Bitcoin has been holding around the $7,900 for some days, and now it seems to have resumed its upward swing above the $8k mark. A lot of people within the crypto community have been waiting for this, with some predicting Bitcoin to hit $10k soon.
According to one Twitter user, Bitcoin is currently setting its next target at $9k, with $10k looking very well on the cards. In a tweet, Rahul Sood expresses a very bullish outlook on Bitcoin. In fact, this translates into a positive notion covering the entire crypto market since positive price action on Bitcoin affects the market across the board.
Bitcoin is on its way to cross $9000. 10K coming up.
— Rahul Sood ? (@rahulsood) June 12, 2019
FOMO To Drive Bitcoin To A New ATH
Rahul’s tweet caught the attention of various Bitcoin fans who decided to pop up and dish out a few opinions in the thread. One follower was of the opinion that the current surge may cause a FOMO and make people rush in to buy Bitcoin before it hits the high prices.
Interestingly, such market developments end up creating more demand for the asset in question, thereby pushing up the price. According to this particular user, the FOMO will lead to Bitcoin recording a new ATH.
Bitcoin has now broken above the $8k mark, with the current market value priced at around $8,100. Bitcoin still holds a strong market dominance at 55.1%, with a total market cap of $143.9 billion and a daily volume of $17.9 billion.
Is 2019 Good For Bitcoin?
Granted, a good majority of Bitcoin fans have had their hopes up for months expecting the crypto to start a serious bull run that’s estimated to reach and possibly surpass the $20k ATH value of December 2017.
One major factor contributing to this spike is Bitcoin’s expected block reward halving that’s to occur in May 2020. If history is anything to go by, Bitcoin’s price has been known to start a spike about a year before each halvening. Well, this could be it.