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Crypto Analyst Says Bitcoin Could Start Another Rally Towards $14,000

· in Breaking, Bitcoin News, Crypto News, Ethereum News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
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Bitcoin (BTC) could start another rally towards $14,000 according to Konstantin Anissimov, the Executive Director at CEX.IO. In an exclusive report shared with UseTheBitcoin, Mr. Anissimov considers that there are large chances for Bitcoin to move towards $14,000 if a weekly candlestick closes above $13,000. 

Bitcoin Should Remain Above $13,000

In the last few weeks, Bitcoin has been traded in a bullish way. We have seen how the largest cryptocurrency moved from below $12,000 to above $13,000. Now, there are several analysts that consider Bitcoin could be moving towards new highs and continue its bull trend towards $14,000.

In order for this to happen, Bitcoin would have to close its weekly candlestick above $13,000, which could be very bullish for the digital asset. However, if Bitcoin is not able to remind raided close to these levels, we may see the virtual currency fall to $12,500 or even $12,000. 

About it, Anissimov stated:

“While the bellwether cryptocurrency continues hovering around the $13,000 zone, investors must pay close attention to this crucial hurdle. A weekly candlestick close above it could lead to another rally towards $14,000. Meanwhile, failing to turn this area into support may see Bitcoin drop to $12,500 or $12,000.”

In addition to it, he talked about Ethereum (ETH) and how the second-largest virtual currency could have the possibility to move towards $470. The analyst considers that for this to happen, Ethereum would have to slice through the overhead resistance that was created at $420 if it wants to continue growing. 

If this does not happen, it may be possible for ETH to fall to $390 in the coming days. A few days ago, Ethereum was able to be traded above $420 for a short period of time. 

Currently, Bitcoin is being traded above $13,100 and it has a market capitalization of $242 billion. Meanwhile, Ethereum is being traded close to $405 and the second-largest cryptocurrency in the world has a valuation of $46 billion. 

It is also worth taking into consideration that Litecoin (LTC), currently the 8th largest digital asset in the market, was able to register a growth of over 22.74% in the last 7 days. LTC was one of the top 5 biggest gainers in a 7-day period among the top 100 cryptocurrencies in the market.