2 Catalysts Will Drive Bitcoin Price Higher in 2018
Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. according to Fundstrat’s Tom Lee, the steadiness of Bitcoin at $6,000 regardless of its lower highs is optimistic. In early 2018, Fundstrat emphasized in a report that the $6,000 level will probably be held by Bitcoin in the mid-term because it's the breakeven point for miners. That means, miners that utilize electricity and mining equipment to verify transactions on the Bitcoin network can still generate some profit if the value of Bitcoin stays on top of the $6,000 level. Lee explained on Bloomberg that the steadiness of BTC at the $6,000 mark and two major catalysts awaiting BTC in the year finish could push the price of BTC up substantially within the next two months. “$6,000 is a level that's a lot of important than we realized. Earlier this year, we were pointing $6,000 as breakeven for Bitcoin mining so that level should hold. The fact Bitcoin is ...