Can bitcoin exceed $14,000 this week?

27. Oktober 2020

The bitcoin course on Tuesday 27 October exceeded $13,400, the highest level since mid-January 2018. In the last 24 hours, the capitalisation of the crypt currency has increased to $248.143 billion.

The BTC value has increased almost 13% over the week, and analysts expect the coin to come close to $14,000 within the next 24 hours. And the strengthening of the Bitcoin is observed against the backdrop of a decline in the American S&P 500 index.

The day before, co-founder of Morgan Creek Anthony Pompliano stressed that BTC’s dependence on the stock market was zero. This is a positive signal not only for this asset, but also for the entire cryptovoltaic industry.

Analysts attribute today’s capital inflow into the cryptosphere to the launch of the DBS Digital Exchange in Singapore. The platform was established by DBS, a local bank. According to observers, investors from South-East Asia have become more active as they have another channel to penetrate the BTC.

Ronnie Moas, founder of Standpoint Research, shares the views of those experts who are waiting for $14,000 to be reached in the very near future. He believes that Bitcoin is smoothly approaching its three-year high.

Mohs also stressed:

Recent turning points including Square, PayPal, MicroStrategy and Fidelity are not yet fully appreciated by traders. The target for 2021 is $28,000.