Is $1,000 the new stable price point for Bitcoin?

Bitcoin appears to be stabilizing at a new price point.

Today, the trading price of Bitcoin reached a high of $1,039, maintaining a steady growth momentum. According to the Bitcoin Price Index ( BPI) , the issuance price of Bitcoin has remained above $1,000 since noon on February 14 .

However, analysts tell us that it may take more time for the digital currency to reach a stable level point.

Tim Enneking, chairman of digital asset hedge fund Crypto Asset Management, predicted that if the market stays above $1,000 for the next few days, this is a more reasonable price.

However, he said he hoped that the growth momentum would be around this level.

“I would be more surprised if Bitcoin fell below $1,000 if there were no other external shocks,” he said.

However, former Bitcoin Foundation board member and startup CEO Vincent Lingham doubts whether Bitcoin can establish a foothold above $1,000.

“It’s certainly possible for Bitcoin to stabilize at $1,000 , but I don’t think it’s possible ,” he told us.

Lingham previously predicted that the digital currency will stabilize at around $1,000 in the next month or two . Today he said that it is normal for the price of Bitcoin to fluctuate within $50.

Petar Zivkovski, COO of leveraged cryptocurrency trading platform Whaleclub, also stressed that the price does not represent “huge support,” but he was optimistic about the overall trajectory.

“The more time the price spends above $1,000, the stronger the underlying level becomes,” he said.

This is an upcoming test, he said, and if the price drops, goes back and forth to test whether Bitcoin is worth $1,000 , and bounces back, it will be a sign that the market can strengthen further.