Bitcoin could reach $ 10,000 with specific impulse
In January bitcoin reached profits that exceeded 30%, a stimulus that could lead the cryptoactive towards significant levels
With the 100-day countdown to the expected Halving of bitcoin and with the gains of more than 30% in January, the price of bitcoin is heading towards the important level of $ 10,000.
At the moment, the price of the cryptoactive is between $ 9,300 and $ 9,500. Thus, it is essential that the resistance at $ 9,500 be broken to make way for higher levels and reach the main objective. On the contrary, if the price of $ 9,500 is maintained, it would possibly deplete the market and leave the bulls demoralized.
Halving is a key factor
Halving is a recognized event in which the block reward of a cryptocurrency is reduced to half its price in order to lower its emission level. It is estimated that the next Halving will be on May 12 and according to the projections the issuance of coins will go from 1800 bitcoins to 900 for each day, something that would directly affect the current supply.
However, when some element is scarce the demand levels are much more valuable, this is due to the deflationary nature produced, in this case, by Halving. The more scarce the asset becomes, the more valuable it becomes.
It can be said then that with a more educated market and aware of the advantages offered by this event, it is likely that the demand is intended to anticipate and bring the price of bitcoin even above $ 10,000.
K. Villarroel
Source: infocoin
