Figures show that BTC/USD’s daily closures have been over $10,000 since 27 July, setting a new record
The price of Bitcoin (BTC) has reached a new record, but this time it is its tenacity that pleases the bullish.
As several analysts and well-known Bitcoin analysts have pointed out this week, the price of Bitcoin has remained above the $10,000 level longer than ever before.
Pomp: Bitcoin is „proving the bearish wrong“.
BTC/USD closed above $10,000 every day for 63 days in a row, an event defined by Anthony Pompliano, co-founder of Morgan Creek Digital, a hard blow for the bearers.
It represents the longest series of daily closures ever, and according to Pompliano, also known as Pomp, weakens the bearish outlook on Bitcoin.
„Dear hater, Bitcoin has spent a record 63 consecutive days above $10,000 and shows only signs of further increases,“ he tweeted on September 28.
„The market is proving your pessimism wrong. There is always time to give up and join the party :) Love, Pomp.“
Will the gap on the CME break the spell of BTC’s price spell?
In recent weeks, Bitcoin has posted mixed performances, after the local high of $12,500 gave way to lows close to $9,800. In any case, however, BTC/USD has managed to avoid a daily closing below five digits.
Following the lows, Bitcoin has recovered and is currently within a range between $10,000 and $11,000, without being able to break the limit upwards so far.
For some analysts, including Michaël van de Poppe of Cointelegraph, there remains a downward risk in the form of a new $9,600 test, a level that corresponds to the gap in futures on the CME, the last remaining at a lower point. The short visit to $9,800 failed to close the gap, creating expectations for a replica.
For the moment, the movements fail to impress.
„Boring markets, they failed to break the $10,800. If we lose the $10,600, I’ll bet on the $10,400,“ said van de Poppe on Sunday, just before a modest rise ended with the $10,950 rejection.
The analyst later published a scenario showing a subsequent drop to $10,400 before another potential $11,000 test.