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Bitcoin has now increased almost 10% in the last seven days...and in the process broke through the multi-year down trendline that started December 2017.  This is a big deal as it marks the first sign that Bitcoin has the potential to definitively move higher. 

![](https://images.hive.blog/DQmNRpD113RmSpp9jaQppVkUZcSV8CnT5pnwezh7RxTw33t/image.png)

Some traders are now betting on a move to $20,000 over the next four months.  But according to according Skew, a crypto derivatives analytics company, the options market only give a  7% probability of bitcoin rising to $20,000.  However, for the bulls out there, Bitcoin is now firmly above the round, whole, psychological number of $10,000 which has served as a major resistance level over the last 12 months.  

![](https://images.hive.blog/DQmUapHwSy6c6RShCjFTgZvL8mj2HCqKNP8Sq7pYu2a9DqP/image.png)

Personally I was telling @scaredycatguide I can't take Bitcoin seriously until is closes above the $11,000 on the weekly chart.  Maybe it's time I took Bitcoin serious as price is trading above $11,000...but it is only Tuesday.

 ![](https://images.hive.blog/DQmU2wnvNzwns9dmL8MZ9eLVaoUFYngi91Zf5CUawZwrZtJ/image.png)

<blockquote>

Bitcoin prices were taking flight on Monday, pushing the digital currency to the highest level in about two months and ending the long dormancy of the world’s No. 1 virtual asset.

Bitcoin, the largest and most influential cryptocurrency, shot past the key $10,000 resistance marker—all eyes are now on the critical $10,500 level,” wrote Nigel Green, chief executive and founder of deVere Group, a financial firm, advising some $12 billion.

Some digital-currency bulls believe that bitcoin is starting to benefit from some of the same dynamics that have lifted gold but in delay.

“If the Bitcoin price does pick up the momentum, nothing else will be able to match it as Bitcoin is a different kind of beast. We believe, the next resistance for the Bitcoin price is 15K now,” he said.

</blockquote>

<center><a href="https://www.marketwatch.com/story/bitcoin-surges-over-10-000-could-surpass-15-000-digital-currency-experts-say-11595853676?siteid=yhoof2&yptr=yahoo">Source</a></center>

![](https://images.hive.blog/DQmVfGoXKJf4Uf4gf8GmE2HKpP5Rpucmx3CWetus9qSLfqt/image.png)

Mike Novogratz is a former Goldman Sachs partner and now represents Wall Street's transformation to Crypto. He is now CEO of Galaxy Digital CEO Michael Novogratz and said with the U.S. Federal Reserve continuing to print money like it grows on trees, along with other central banks around the world, things could get really bullish for Bitcoin.

Mike was on CNBC this morning and he is really putting his money where is mouth is.  This morning he said he as about 20% of his net worth in Bitcoin.  Mind you he also owes a ton of Ethereum as well.  To put this in prospective, we are talking about a man that is worth north of $500 million. 

From my perspective if we close above $11,000 by the end the week, the door opens for price to move higher to $13,000 in the near future. 

![](https://images.hive.blog/DQmQDmLhPiDHGfyHXVXkKP7KLmRzNa9y7jTjVNkxcYTVoCV/image.png)

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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