Many commentators say that Bitcoin breaking $14,000 will be important as that level has been one of macro importance for the past three years.
Will all hell break loose when Bitcoin hits $14,000?
"Once BTC breaks $14k, we'll likely be in a different regime in terms of volatility, momentum, retail participation, and so on. A lot of things that worked last few months may no longer work and vice versa. $20k will take this regime to a whole new level. Just a hunch. We'll see."
Once BTC breaks $14k, we'll likely be in a different regime in terms of volatility, momentum, retail participation, and so on.
The multiple macro interactions BTC had at $14,000 suggests it decisively breaking and holding above this level would mark a shift in the market structure.
Analyst "CL" shared the chart below amid Bitcoin's surge this past week, noting that "Almost no one in the current derivatives market ever traded meaningfully above [the] current level."
With derivatives believed to be driving a bulk of the crypto market's price action, the introduction of a whole new price range to derivatives traders could result in volatile price action.
Some argue that once Bitcoin breaks $14,000, all-time highs should be expected shortly after that.
"To be clear, when we break $12k clean on a spot-led move with no leverage, who in the lord's name will sell at $15k. And given that no one sells at $15k, who in the lord's name would sell at $20k.".
To be clear, when we break $12k clean on a spot-led move with no leverage, who in the lord's name will sell at $15k. And given that no one sells at $15k, who in the lord's name would sell at $20k. And when they hear that $BTC is still not ded, how much is a bitcoin worth?
Bitcoin breaking $14,000 will bring a new "regime" of market dynamics
Published on Oct 25, 2020
by Cryptoslate | Published on Coinage
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