Top Movement For Bitcoin Is Imminent: Could BTC Visit $10k By 2020?

A top movement for Bitcoin is something that could benefit everyone – starting from the altcoin investors on the market up to the day traders and cryptonews followers from all over the globe. This is something that is quite obvious – but does Bitcoin have the potential to rise soon?

Well, according to one prominent cryptocurrency investor and commentator, the importance of the $10,000 mark is very big – especially in a nascent market like this. In other words, the analyst is confident that a top movement to $10,000 and then $20,000 is how the momentum should be set up and how the macro price scales should go.

This would also mean that Bitcoin has the fuel to shoot higher, potentialy until it reaches another important round number. We are talking about the analyst Su Zhu of Three Arrows Capital, who spoke in a recent podcast along with Luke Martin and said that round numbers in the cryptocurrency market are extremely important. Zhu claimed that the “round numbers have even more meaning in crypto [than forex] because this is what everyone thinks.”

All of this shows that Zhu believes that a top movement for the leading cryptocurrency is the most important moment in terms of price action analysis. However, it is not only him that shares the same outlook in the latest Bitcoin news.

Earlier this year, the famous Fundstrat Global Advisors analyst Tom Lee also shared his outlook and implied that $10,000 is the level to watch for the time being. Fundstrat wrote a full analysis and said that once BTC tops $10,000, “Level 10” FOMO will grace the market. This is how the cryptocurrency market can shoot even higher once $10,000 is reclaimed on a macro scale.

As Lee took to Twitter earlier this year, he wrote that “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”

We can also see reports from Bloomberg agreeing that a top movement to $10,000 is important and that the barrier between four digits and five is crucial.

“Bitcoin faces solid resistance at the $10,000 level, with investors having difficulty valuing it given continuous debate on whether or not it’s an asset or a currency. For many investors, BTC will need to break that barrier for confirmation that meaningful gains could continue,” the reports showed.