Opinion Aug 07, 2020

Max Keyser doubled his bet on Bitcoin up to $ 28,000

Last weekend, BTC caught traders by surprise when it broke the $ 10,000 mark, starting with an ongoing rally. This weekend, it did it again, but with a price rollback from $ 12K to $ 10,800.

The price movement of the BTC is just a shake-up

Despite a shaky start on Sunday that startled many traders, veteran crypto trader Max Keyser once again expressed his optimistic attitude towards BTC. In his opinion, it will be $ 28,000.

Keizer, who is one of the first crypto investors, assures that Bitcoin's previous high of $ 20,000 will not be resisted in the current rally. He tweeted:

``The $ 20K level for Bitcoin will not offer any resistance. We won't see any resistance until $ 28,000. A brief rollback, and then the $ 100,000 attack will begin with renewed vigor.``

The last two weeks have been good for the bit, as it has risen from 9,200 to $ 12,000, reaching a 2020 high. Both Bitcoin and Ethereum are showing strong momentum, which benefits the entire market.

Keyser is known for his optimism and preference for the number one cryptocurrency. Its first forecast for 28,000 came at the end of July, when BTC broke $ 11,000 for the first time. He believes that the asset can see six digits.

``28K are in play before we see a pullback, and then we go to 6 digits.``

Another trader named Pierre also expressed similar opinions, stating that if BTC returned $ 11,500 over a weekly and monthly time period, the path to its historical high of $ 20,000 would not have much resistance.

Crypto trader Scott Mike, widely known as the`` Wolf of all streets, `` said he expected this pullback as there were several bearish divergences before the crash. He tweeted:

``Despite the recent drop, most Bitcoin supporters simply view the latest price movement as a shake-up.``

Bitcoin can go sideways

Bitcoin can go sideways

Amsterdam-based stock trader Michael von Poppe has already said that Bitcoin has entered a new range between 9700 and 12000, after overcoming resistance at $ 10,500.

He now expects the crypto asset to set a similar range, and step aside, within a few weeks. Altcoins are further expected to benefit from this move. He said:

``The most likely case is that we will have volatility on $ BTC and $ ETH, as they determine their range. But over time (one week or two), it will start to fall. What should you do? Yes, buy dips on altcoins. While everyone is focused on $ BTC, you should focus on alternatives.``

The overall market mood continues to be bullish, as most assets are slowly recovering from a pullback, and some are showing significant growth.

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