While $ 8,000 was a key move, last week's growth of over $ 7800 was even more significant, according to analyst Mati Greenspan of eToro.
"Once this level was hit, $ 8,000 followed easily," said Greenspan. "If we can maintain over $ 7800, that would be really upward and will last for a long time."
The next level of resistance is $ 10,000, but even if we get to $ 9500 from $ 8,000 it could be hard, Greenspan added
Investors had several reasons to be optimistic this week. Bitcoin began climbing over $ 7,000 last week after BlackRock reported that it had assembled a group to investigate crypto and block technology.
For now, analyst Mark Newton expects a decline of 5-10 percent before the long-term rise in Bitcoin's price.
"We will see a download in August," he said. "Historically, you would like to invest in November and December."
Source: CNBC
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