DESPITE ALTCOIN DROP, THIS ANALYST THINKS BITCOIN IS ON TRACK FOR $11K

DESPITE ALTCOIN DROP, THIS ANALYST THINKS BITCOIN IS ON TRACK FOR $11K

Gate Trade News Wednesday, September 16, 2020 12 0

Bitcoin has dropped around $200 from the daily highs as sellers have stepped back in.

 

The drop comes in spite of news that MicroStrategy, a Nasdaq-listed company, bought over $100m worth of Bitcoin yet again.Analysts remain optimistic about BTC’s prospects.

 

Some traders are sharing charts indicating that Bitcoin soon moves above $11,000.BTC, though, is outperforming altcoins, which is a market dynamic not seen in many weeks.This may suggest that the prevailing trend may be bearish.

 

Analysts remain optimistic about Bitcoin’s prospects despite the recent weakness in the altcoin market. BTC in and of itself has slid around $200 from the daily highs while altcoins are dropping by over 10% across the board