Analysts Consider It Could Be A Good Time To Take Profits After Bitcoin’s Run To $11,100


  • Bitcoin has been growing during the last few months until it reached $11,100
  • However, there are some analysts that suggest investors should take some profits

Bitcoin (BTC) has surpassed $11,100 a few days ago, the highest price in over a year and investors are still expecting the market to keep growing in the near future. This fast price increase could also be related to FOMO in the market, which is seen during periods of bullishness among crypto enthusiasts. Thus, there are some experts that consider it is a good time to make some profits after the fast price increase that Bitcoin experienced.

Is It A Good Time To Take Profits?

Peter Brandt, a recognized chartist and crypto analyst, suggested that it could be a good time to take “money off the table.” He mentioned that the “Obnoxious-Twitter-Millennial-Index” (OTMI) is registering extreme FOMO (Fear of Missing Out).

Bitcoin was traded close to $3,200 in December 2018, which was the bottom that the bear market in 2018 reached after an entire year of negative performance.

However, just a few days ago, Mr. Brandt wrote another tweet in which he said that Bitcoin could be moving to $100,000 in the near future since it is currently entering its fourth parabolic phase since 2010. He then mentioned that in his 45 years of trading, no other market has gone parabolic on a log chart in this way.

There are other users that believe that Bitcoin is going to be moving to $20,000 in the near future, while others consider that it can even surpass $40,000 as Thomas Lee, the co-founder of Fundstrat Global Advisors, suggested.

Peter Schiff, the CEO of Euro Pacific Capital, wrote on Twitter that it does not matter how high the price of Bitcoin rises unless the investor sells these funds. Every buyer has to eventually sell in order to be able to benefit from the rise. If holders decide to cash out, the price of Bitcoin is expected to collapse.

Currently, Bitcoin is being traded around $10,800 and it has a market capitalization of over $192 billion. In the last 24 hours, the digital currency expanded 1.88%, according to data provided by CoinMarketCap.

Bitcoin (BTC) Live Price

1 BTC/USD =$49,659.4142 change ~ 2.30%

Coin Market Cap

$925.94 Billion

24 Hour Volume

$12.77 Billion

24 Hour VWAP

$48.45 K

24 Hour Change

$1,141.98

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