Bitcoin prices surpassed $60,000 today, breaking through that key, psychological level after briefly encountering resistance.
The world’s most prominent digital currency climbed above $60,000 close to 10 a.m. EDT, CoinDesk data shows.
The cryptocurrency rose to as much as $60,326.77, additional CoinDesk figures reveal.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
“It’s an exciting day in the crypto world with Bitcoin breaking $60,000,” said Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management.
“Ideally, we’d like to see Bitcoin build a base over $60,000 and cement that level as new support. All eyes would then be on the all time highs of $65,000,” he stated.
“If we break all time highs, there is no telling how high the momentum could take us,” added Sifling.
“The last time we had a major breakout over an all time high ($20,000) was at the end of 2020 and it went on to have a monster rally.”
Several other analysts also weighed in, offering specific figures for where bitcoin is likely to encounter resistance next.
Before the digital currency surpassed $60,000, Nick Spanos, cofounder of Zap Protocol, stated that rising above that price level would cause bitcoin to “gain fresh momentum to target its all-time high of $64,483.”
He noted that “if this resistance level is breached, Bitcoin would then have fresh momentum and traders would target the $68,000 and $70,000 resistance levels.”
Katie Stockton, the founder and managing partner of Fairlead Strategies, LLC,
“Bitcoin is shrugging off short-term overbought conditions on positive short-term momentum,” she stated.
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