For weeks, crypto currency enthusiasts have been pointing to the magical $10,000 mark as the place where the psychology of investors may finally bring Bitcoin into resistance.
Goodbye ten K.
to be sure, there was a lot of selling when the $10k point hit, and the currency looked like it was going to butt up against that mark til it rain out of steam, but once it blew through the 10k sellers, it started to shoot once more.
This will have some positive impact on crypto/blockchain stocks Wednesday, especially miners, which will be hoping the upward spring continues.
The public markets have been turbocharged on the back of crypto price rises of late, with the Venture scene being dominated by new blockchain issuers. To date, when crypto prices surge, so too have crypto stocks, for obvious reasons, and we’d expect that to be the case going deeper into the week.
the impact of the ten-K wall falling was felt in Ethereum (ETH) too, which popped from a steady $465 to $476 in minutes, which is a new high for the currency.
Litecoin (LTC) and Dash had similar runs.
UPDATE: The side currencies have fallen off since the Bitcoin spike, but BTC is continuing its march, up over $10,300 at the time of writing.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.