After breaking through its key resistance of $10,000, analysts expect the Bitcoin (BTC) to reach much higher levels. For example, Anthony Pompliano, co-founder of Morgan Creek Digital, said Bitcoin may hit $100,000 by the end of next year on low supply and high demand.

“Bitcoin just hit $10,000. However, I still think that Bitcoin will hit $100,000 by end of December 2021. Fixed supply. Increasing demand. Time will tell.”

Today, the cryptocurrency has moved up, breaking through the psychological level of $10,000; its highest since 1 October 2019.

In addition, BTC, the world’s largest cryptocurrency with market cap reaching $183.75 billion, recorded gains of 40% year-to-date.

The rise came despite worries about the unexpected breakout of coronavirus in China and its continuing expansion in the region.

The epidemic affected some cryptocurrency-related activities such as the delay of TOKEN2049; a major crypto-event held every year in Hong Kong.

Thus, TOKEN2049 was rescheduled from mid-March to 7-8 October 2020.

According to Coinbase data, BTC surpassed the 10,000 level – its highest level in four months – after rising 5% since the beginning of February.

However, crypto enthusiast Michaël van de Poppe said on his twitter account that BTC has reached a temporary high, and then would decline in some point:

“Still, I think we’re going to top out for a bit here and just make a sideways range. Identical, the best would be $8,750-9,000 as long entries. Doubt we’ll get it…breakthrough here and targeting $10,400-10,900.”

BTC rose 2.76% to $10,083.02 over the last 24 hours.

Most importantly, the flagship cryptocurrency has been upgraded to “A-” by Weiss Ratings on bullish performance.

Weiss said on its twitter account:

“The Weiss Crypto Rating for #BTC is now A- (excellent), thanks to improving fundamentals and positive price action ahead of Bitcoin’s next halving.”

In March 2019, the agency has considered Bitcoin, XRP and EOS as cryptocurrencies having the best combination of acceptance and technology.

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