Despite the fact that Bitcoin (BTC) has just shed $300 in under a few hours, breaking under the $7,800 support level yet again, many are still bullish on the cryptocurrency. The fact of the matter is, BTC closed its weekly candle strong (no losses/no gains), leading many to claim that this market is decidedly bullish and that Friday’s Bitstamp flash crash to $6,100 from $7,800 isn’t much of an issue. In fact, as BlockTower Capital’s Ari Paul wrote in a tweet, “I was in a room with 30 crypto people and no one batted an eye. Strong underlying confidence. I actually thought my phone app might be broken for a second when the tone in the room didn’t change.”
In fact, people still think that Bitcoin can soon reach $10,000.