RATE Group | Industry Leader Anticipates Bitcoin to Soon Hit $16,000 Despite Recent Consolidation
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Industry Leader Anticipates Bitcoin to Soon Hit $16,000 Despite Recent Consolidation

03 Nov Industry Leader Anticipates Bitcoin to Soon Hit $16,000 Despite Recent Consolidation

Posted at 18:35h in Bitcoin News by

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Bitcoin (BTC) has been on a wild ride over the past several weeks, which first began when it incurred a meteoric rally that sent its price surging from lows of $7,300 to highs of $10,600 – a move that marked one of the largest single-day movements ever experienced by the cryptocurrency.

This movement instantly shifted the overall market sentiment and led many analysts that were previously setting relatively low targets to flip long, and one industry leader is now noting that investors should anticipate Bitcoin to surge to fresh year-to-date highs “soon-ish.”

Bitcoin Inches Lower During Bearish Overnight Movement

At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,215, which marks a slight drop from its daily highs of nearly $9,400 that were set late yesterday as bulls began to garner some momentum that ultimately proved to be fleeting.

Over a one-week period, BTC has been caught in a relatively tight trading range between $9,000 and $9,500, and…

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