Bitcoin experienced a strong daily closure last night as the price of the cryptocurrency continued to rise higher by crushing $12,000 in the last hour.
The rise above the $11,500-$11,800 range was the most significant gain of the bulls in the last week. Many analysts note that ranges above $12,000 for Bitcoin will meet little resistance. Therefore, some traders predict a swift rise to $14,000 or $15,000 mark in the next weeks.
The recent spike over the price of $12,000 went past an “ancient” price-level and according to Michael van de Poppe, who works as a trader at the Amsterdam Stock Exchange, if this peak is conquered, then the bulls have a lot of open space to maneuver which means a new bull run is on the horizon.
As Bitcoin has positioned itself at its 2020 highest, Ether`s value marked a 2-year high at $399 as well.
Starting on July 18, the rally of the Ether has seen more than 70% gain in price, and analysts believe the altcoin could see further gain as Bitcoin gains ground and the ETH 2.0 upgrade is coming closer and closer.
Some analysts, such as the prominent expert and host of the Kaiser report Max Kaiser, predict that the breaking of psychological barriers, macro factors, and the growing confidence and popularity of the cryptocurrency assets could drive the price of Bitcoin to the six figures in the mid and long-term.
