Bitcoin is likely to go high in the near-future

Analysts now believe that Bitcoin is likely to surge into the $9,000 region in the near-future, which may be sparked as soon as BTC surges past its current resistance level around $8200.
For several weeks, the crypto market have been on the uptrend which has allowed the bitcoin set fresh year-to-date highs.
The cryptocurrency market leader jumped more than 12 percent on Friday, reviving the case for a potential break above the June 2018 high of $8,500. Bitcoin topped $8,325 before giving up some of its gains. Since the start of the year, bitcoin’s value has increased more than 120% of a true.

Bitcoin prices have yet to recover to its all-time highs of around $20,000 in late 2017 when a frenzy of interest from retail investors suddenly sent the value of cryptocurrencies dramatically higher. It was said while it wasn’t possible to confirm who is behind the direct flows of who is buying bitcoin, it looked logical that Chinese investors were using the digital currency as a means to diversify.

An analysts said the bitcoin price has now hit a base value and now individual stories such as Samsung and HTC phones carrying bitcoin or Amazon marketplaces accepting the digital currency is starting to take effect on consumer acceptance.
He added that Fidelity Investments, one of the largest asset managers in the world, will soon start crypto trading for institutional customers was also having a postive impact on price. Meanwhile, digital currency critic David Gerard is ascribing bitcoin’s recent run to trading moves by big holders of the digital currency who are putting the squeeze on short sellers.

Specialist also linked the rise in bitcoin to an influx of dollar-substitute tokens called “tethers,” which have supposedly been introduced into the digital market to inject liquidity. Tether is owned and run by the same people as crypto exchange Bitfinex.