Bitcoin has seen consolidation under $12,000 ever since unceremoniously losing that pivotal price point the week before last. The cryptocurrency now trades at $11,700 as of this article’s writing, having closed its weekly candle above a crucial support.<\/p>\n
Arguably the technicals of the Bitcoin<\/a> market remain in a shaky spot. Some have asserted that BTC’s rejection at $12,000 is a likely sign it will retrace towards the $10,000s, maybe lower.<\/p>\n Vinny Lingham, the CEO of Civic, seems to be unphased. The cryptocurrency investor asserted that there’s a good likelihood the leading digital asset will soon trade at a price of $15,000.<\/p>\n According to Vinny Lingham<\/a>, the chief executive of crypto startup Civic, there’s a good likelihood Bitcoin will soon begin a leg higher to $15,000. He made this comment in reference to how $10,000 “represents strong support”:<\/p>\n “It looks to me that #Bitcoin is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.”<\/p><\/blockquote>\n It looks to me that #Bitcoin<\/a> is poised for another leg up, with an overshoot above $15k, but then a retrace and heavy consolidation around $14k for a few weeks at least. I doubt this sub-$12k price holds for much longer and $10k represents strong support right now.<\/p>\n — Vinny Lingham (@VinnyLingham) August 28, 2020<\/a><\/p><\/blockquote>\nRelated Reading:\u00a0These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop<\/a><\/h6>\n
Bitcoin Could Soon Hit $15,000, Says Industry Chief Executive<\/strong><\/h2>\n
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