Bitcoin is now flashing some immense signs of strength as its price pushes up towards its yearly highs of $11,400. This comes as Ethereum, and many other major altcoins, also build technical strength.
This ongoing uptrend is being driven by massive inflows of buying pressure that are helping to degrade the resistance established throughout the mid-$11,000 region.
Analysts believe that this could mark the start of the next leg up, which could send BTC to $12,000 or beyond.
This potential leg higher could devastate altcoins, according to one respected fund manager, who claims that a move towards $12,000 could be imminent if BTC breaks above $11,400.
Because Ethereum has been providing Bitcoin with some guidance in recent weeks, ETH may be immune from any type of BTC-induced downtrend.
Bitcoin Flashes Signs of Strength as Analysts Watch for a Move to $12,000
At the time of writing, Bitcoin is trading up over 2% at its current price of $11,350. This