Last weekend, Bitcoin (BTC) surprised investors when it crossed the $10,000 level, kicking off an ongoing rally. This weekend, BTC did it again, but this time its price dropped from $12,000 to just $10,800, and $1 billion flowed out of the market. Despite a shaky start on Sunday that surprised investors, cryptocurrency veteran Max Keiser once again expressed his bullish sentiment towards BTC, claiming that it won't be long before Bitcoin reaches the $28,000 level. Keiser, who is one of the early cryptocurrency investors, asserts that Bitcoin's previous ATH of $20,000 will not be a drag on the current rally. Kaiser wrote on Twitter: "The $20,000 level will not be resistance for Bitcoin. We won't see any resistance until $28,000. A short pullback and then the $100,000 attack begins with renewed vigor." The last two weeks have been positive for BTC as it has managed to rise from $9200 to $12,000, and reach its highest level in 2020. Both Bitcoin and Ethereum are showing strong momentum that the entire market is benefiting from. Keiser is known for his optimism about the oldest cryptocurrency. He first predicted a price of $28,000 in late July, when BTC surpassed $11,000. He believes bitcoin's price is likely to hit six figures soon. "$28,000 is in play before we see a pullback - and then we go to six figures," he said. Another investor called Pierre also expressed a similar opinion, stating that if BTC were to return to the $11,500 level on a weekly and monthly timeframe, the path to its ATH of $20,000 would have little resistance. Scott Mike, commonly known as the "Wolf of All Streets," said he expected this pullback because there were many bearish bounces before the crash. A $1700 $BTC hourly candle (mostly in a few minutes) on extremely high volume, including a similar sell off on $ETH in the middle of the night? Cool. There were bear divs everywhere, as I mentioned. - The Wolf Of All Streets (@scottmelker) August 2, 2020 Bitcoin could go both ways Amsterdam-based stock trader Michael Von Poppe has previously argued that Bitcoin has entered a new range of $9,700 to $12,000 after breaking resistance at $10,500. He now expects BTC to establish a similar range and gently swing its price in both directions for a few weeks. He also expects altcoins to benefit from this situation. "We will most likely have volatility on $BTC and $ETH as they establish their range. But over time (week-two weeks) this will start to drop. What do you need to do? Yes, buy altcoins. While everyone is focused on $BTC, you should focus on altcoins." The overall market sentiment remains bullish as most assets are slowly recovering from the pullback and some are making significant gains. At the time of writing this article, the price of BTC is at $11,150 and overall market dominance is back to 60%. Tags bitcoin btc Max Keiser
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