• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets

Here’s Why One Analyst Expects Bitcoin to Surge Towards $12,000

Cole Petersen
by Cole Petersen
4 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin and the entire crypto market aren’t providing investors with much clarity into their near-term outlooks
  • BTC is in the process of battling the headwinds created by the ongoing turbulence within the stock market
  • This turbulence has come about as a result of a lack of progress surrounding the second stimulus package
  • If the White House and Congress fail to come to terms with an agreement, then the stock market may continue seeing immense selling pressure that impacts Bitcoin
  • One analyst is still confident that upside may be imminent for BTC
  • He is pointing to the strong support just below where it is currently trading, noting that a move higher could be imminent

From a fundamental perspective, Bitcoin has been growing by leaps and bounds, with virtually all on-chain metrics showing signs of subtle bullishness, while companies also begin accumulating BTC.

This strength helped break its previous consolidation phase within the mid-$10,000 region but has not been enough to send it past any of the key resistance levels that sit throughout the mid and upper $11,000 region.

Despite its stalling momentum, one analyst points to the robust support levels that sit just below where BTC is currently trading at. He notes that a move to $12,000 may still be imminent.

Bitcoin Struggles to Gain Momentum as Stock Market Creates a Headwind 

At the time of writing, Bitcoin is trading down marginally at its current price of $11,390. This is around where it has been trading throughout the past few days.

Its stalling momentum comes as the stock market faces some heightened selling pressure due to the lack of progress on any phase 2 stimulus bill.

It still is trading well above its key support around $11,300, which has continued holding strong throughout the past few days despite several bouts of intense selling pressure.

Analyst: BTC Likely to Take Aim at $12,000 in the Near-Term 

While sharing his thoughts on where Bitcoin might trend next, one analyst noted that he still thinks a move to $12,000 could be imminent, despite the choppy price action seen as of late.

He offered this target in the below chart, noting that a move here may spark a slight correction followed by yet another bout of sideways trading.

“I could get behind offering these levels passively. Not something I normally like to do, but I think if we drive up again that we end up just correcting to a degree and chopping after anyway. The longer-term play is still intact.”

Bitcoin

Image Courtesy of Cantering Clark. Source: BTCUSD on TradingView.

How the stock market trends this week will undoubtedly influence Bitcoin, but its fundamental strength may allow it to dodge most of this turbulence and push higher.

Featured image from Unsplash.
Charts from TradingView.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Follow

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Full Profile

Related Posts

Bitcoin

Buying Homes With Bitcoin? $6-B Firm Says It’s Making That A ‘Priority’

1 hour ago
Bitcoin

Momentum Builds: SBR And Bitcoin Act Are Closer Than You Think

16 hours ago
Bitcoin

After Nearly $80 Billion In Bitcoin, Saylor Says It’s Time To Pause – For Now

1 day ago
Bitcoin

Are Bitcoin Whales Back In Accumulation Mode? On-Chain Data Suggests So

2 days ago
Bitcoin

Bitcoin Options Market Sees Bullish Shift: Calls Lifted In $136K–$145K Range

3 days ago
bitcoin

MARA Boosts Bitcoin Reserves By 373 BTC In September, Surpasses $6 Billion In Holdings

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Fleet Asset Management Group Brings the Power of Cloud Crypto Mining in a Low-Carbon Package.

    Fleet Asset Management Group Brings the Power of Cloud...

    18 hours ago
  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    5 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    5 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    5 days ago
  • 狗狗幣引領『Uptober』Meme...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.