NYSE and Bitcoin achieved growth…can the cryptocurrency top USD 10K?

Last night, the New York Stock Exchange(NYSE) was stabilized even with the anxiety over the second wave of COVID-19, thanks to the economic stimulus plan and the U.S-China trade deal.

On June 23rd(ET), Dow Jones Industrial Average 30 Index was traded at 26,156.10, advanced by 0.5% compared to the previous trading session. Standard&Poor's(S&P) 500 Index was traded at 3,131.29, increased by 0.43%; Nasdaq tech stocks at 10,131.37, advanced by 0.74%. As for Nasdaq Composite, the bullish sign was shown for the longest time since last December.

Bitcoin(BTC), the digital asset that records the top market cap, is moving around the USD 9,600 area. Yet, it doesn't seem to break USD 10,000, which will drive the bullish growth of BTC. But, its price is likely to be grow further, unless it shows downward momentum.

"BTC/USD prices show critical growth trend, supported by at the level of USD 9,600 zone. After breaking the initial USD 9,700 resistance zone, its price can near USD 9,800. If its price is above USD 9,800, BTC is expected to reach the resistance zone between the 9,950 and the USD 10,000. Meanwhile, if the recent breakout zone, the USD 9,500 supporting level, BTC price can plunge by USD 9,350 or even by USD 9,282," explained Aayush Jindal, an analyst of NewsBTC.

"For last couple of months, BTC price topped USD 10,000 for many times, but it failed to implement the level of support. When BTC price reaches above USD 10,000, a stunning breakout would be firmly proved," analyzed CoinDesk, an online cryptocurrency news media.

"Currently, BTC sees a strong resistance zone at the level of USD 9,800 to USD 9,900. The additional rally is depending on the maintanance of the USD 9,600 supporting level. Yet, there's a possibility that more people would sell BTC," said Neo, an analyst of OKEx. 

Meanwhile, Alex Krüger, a prominent cryptocurrency analyst and economist, shared his skeptistic view on the BTC prices, suggesting that its short-term target would be USD 7,700 to USD 7,800. "A bearish sign is lingering. It means BTC price risks dropped in recent several days or weeks," he added.

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