Bitcoin Expected to Break $10,000 Resistance Level

Ten thousand has been an important number for Bitcoin. The last time Bitcoin exceeded $10,000 USD was shortly before BTC’s 3rd Halving event in the middle of May 2020. It also broke this level on June 1, 2020, when it peaked at $10,428. Historically, Bitcoin Halving events have been followed by a brief dip, a plateau, and then a significant rise in value. The true test – one which everyone has been waiting for – is Bitcoin’s exceeding the $10,000 level for an extended period. Simon Peters writes on Crypto Corner, “This price level could see bitcoin recognized as not just a long-term investment in its own right, but a global investment at that.” Major Bitcoin investors believe the time for Bitcoin to break the $10,000 resistance level is at hand.


A recent article on Markets Insider highlights famed investor Michael Novogratz’ rally cry for the cryptocurrency. He tweets,

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]”$BTC is coiling. It will take out 10k soon. All the tragic turmoil in the USA adds to the narrative. Budgets are going one way and it’s the opposite of balanced. When 10k goes it will move fast. Get on the train.”[/perfectpullquote]

Shortly thereafter, BTC climbed above $10,000.


Bitcoin Price Index 5/15/20-06/01/20 via coindesk
Bitcoin Price Index 5/15/20-06/01/20 via coindesk


BTC’s meteoric rise in value has produced a number of Bitcoin billionaires. Alongside Michael Novogratz, formerly of the investment firm Fortress Investment Group and Goldman Sachs, other famous early adopters / Bitcoin investors include:

  • Barry Silbert, the Founder and CEO of Digital Currency Group and parent of Genesis Trading and CoinDesk
  • Blythe Masters, former executive at JPMorgan Chase and CEO of Digital Asset Holdings
  • Dan Morehead, founder and CEO of Pantera Capital
  • Tyler and Cameron Winklevoss, of Gemini cryptocurrency exchange and the originators of the idea for Facebook

“These are the early adopters who recognized a lucrative opportunity and started accumulating or mining in the early days and also predicted its economic opportunity,” says Sean Ross. More information can be seen about these investors on Investopedia.


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