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CNBC Crypto Expert: Bitcoin Must Hold Above $10,000 to Keep Surging

  • Yuri Molchan
    📰 News

    A CNBC expert on crypto trading predicts that Bitcoin can resume growth provided it does not go below $10,000


CNBC Crypto Expert: Bitcoin Must Hold Above $10,000 to Keep Surging

Jim Iuorio, a CNBC contributor and a trader, has said in a recent interview on CNBC’s “Futures Now” that Bitcoin price must hold above $10,000 – then it will continue rising. The 10K level is what holds BTC from another major collapse.

Iuirio on the recent Bitcoin price fluctuations

Since 2019 began, Bitcoin has gained almost 200 percent. This week, its price has shown big fluctuations, crushing from almost $14,000 on Thursday.

Iourio is a managing director of TJM Institutional Services and has been trading options and futures for a long time. He believes that despite the recent fall in the price, there is still a hope for Bitcoin to soar.

As long as it [BTC] stayed above $10,000, I still think it has some decent upside.”

BTC community might be disappointed

He says that the current reverse in the BTC price may upset some Bitcoin investors but he says that the presently going correction of the price is healthy.

This is, I hate to say, a healthy movement in something that’s gone as far as it is.”

‘Bitcoin is not ready for prime time’

Overall, the expert believes that the major crypto asset is far from being ready to become real ‘digital gold’. However, gradually every big institutional investor improves the situation, as per Iuorio.

Everything that comes into it validates this a little bit more. It’s not ready yet. But anything that can be added to it, maybe someday it will grow into that.”

Cover image via 123rf.com
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About the author

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.

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