Weiss Crypto Ratings Explain Why Bitcoin Won’t Go Below $10,000 Again
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Weiss crypto ratings, one of the more respected crypto rating websites in the industry, has recently calmed down at the worries in regards to the Bear market that the industry seems to be stuck in at the time of writing. The company is confident that this trend is going to die down quicker rather than slower and it isn’t strong enough to pull the leading cryptocurrency below $10,000, especially in the short term.
Volatility is very high in the industry right now and has been for the past few weeks. Even since September began, the flagship currency has dropped by 10% but even so, bitcoin is holding strong at this level.
Writing on Twitter, the company says:
“Bitcoin price balances at $10K. We don’t think BTC is going to go below 10k anytime soon.”
Discussing the second biggest Cryptocurrency in the industry, Ethereum, Weiss claims that the $10,000 price paid for bitcoin is just short term support.
Despite this bearish action within the industry right now, some believe that $11,000 is not impossible for bitcoin to re-gain. In fact, the bullish activity is holding strong with a reversal pattern being indicated.