CoinDesk quotes Markus Thielen, the founder of 10x Research, as saying that Bitcoin (BTC) could soon rise to $80,000, setting a new all-time high. At the time of writing, the price of Bitcoin has surpassed $72,000, breaking through a resistance line connecting the highs of March 15 and March 27, as well as a triangular convergence pattern formed by the lows of March 20 and April 3.
In a memo sent to clients on Monday morning, Markus Thielen, the founder of 10x Research, stated that if this breakout is bullish, Bitcoin could rise to $80,000 or more in the coming weeks, possibly even sooner. Markus Thielen added, “Buying at $69,280 and setting a stop-loss at $65,000 seems to be an appropriate trading strategy.”
Bitcoin and other cryptocurrencies had been in a weak state until the release of the unexpectedly strong non-farm payroll report, which reversed the downward trend. The report highlighted the resilience of the US economy and stimulated risk investment activities in various sectors of the financial market.
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