- Bitcoin Crosses $8200 resistance level
- McAfee says every downslide will be succeeded by greater upward acceleration
- Peter Mccormack Predicts 33k for Bitcoin
- CME Bitcoin Futures Reaches 33.7k ATH
The purported parabolic rally Bitcoin is maintaining in the market is still on the wheel, and the much awaited FOMO has eventually returned to the market as the crypto king continues to champion the market with 59.9% dominance as at press time.
Even though there are slight downslopes in the market which many pessimistic analysts hold on to as fact, the upward rally proves more domineering with additional revamp power, pushing a unit of Bitcoin above $8,200 resistance level.
However, the popular crypto pundit, John McAfee, has decreed that every downslide in the market will be succeeded by a greater upward acceleration, affirming that Bitcoin has undoubtedly resumed on the bullish terrain that will take it to another tremendous all-time high.
The more Bitcoin drops in price, the greater the upward acceleration when the downward pressure fizzles out. Remember – the Crypto market is NOT the stock market. It is a new paradigm. Old formulas cannot be applied, and traditional math is impotent when peering into crypto. pic.twitter.com/ReBRT8yYBe
— John McAfee (@officialmcafee) May 13, 2019
A unit of the world largest cryptocurrency by market cap, Bitcoin, trades for $8,116 on CoinMarketCap as at press time with 15.09 percent gain in the last 24 hours and over 34 billion 24 hours trading volume.
Peter Mccormack Predicts 33k for Bitcoin By July
The popular crypto podcast host at What Bitcoin Did, Peter Mccormack, has also joined a number of observes to drop comment on the present drive of Bitcoin in the market.
While Bitcoin continues to move swiftly along the rising wedge of the market with seemingly unstoppable force towards the ceiling, Mccormack, who previously claimed he turned $32,000 into $1.2m with cryptocurrency and lost almost everything afterwards, proclaimed that the right spot for BTC by July would be $33,000.
In an enchanting tweet which got series of replies, Mccormack predicted that Bitcoin would be worth 33k by July 2019.
$33k by July
— Dr. Peter McCormack (@PeterMcCormack) May 13, 2019
Even though some rejected the forecast in the tweet thread, another crypto podcaster/enthusiast upped the prediction with an assertion that a unit of Bitcoin would be priced $50,000 by October.
$50k by October
— David Brigner (@LiberateCrypto) May 13, 2019
CME Bitcoin Futures Reaches 33.7k All Time High Record
The most diverse financial marketplace in the world, CME group has revealed that Bitcoin futures on its platform has just hit a new all-time high record. CME Bitcoin futures reached 33.7K contracts high on May 13.
Compared to the previous high value – 22.5K contracts on April 4, the value got upped by 50%.
The next big thing in equities trading is here: Micro E-mini futures, smaller-sized contracts designed for maximum opportunity across four key indices. https://t.co/BZZsRIST3q pic.twitter.com/ba1fO5m1Wd
— CMEGroup (@CMEGroup) May 5, 2019
The American financial market company, CME group, which consists of CME, CBOT, NYMEX, COMEX and KCBT, operates the largest options and futures exchange in the world.