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Bitcoin (BTC) Surges Past $8,000, Bear Market Ends

Many analysts believe there's no more bear market as the bullish Bitcoin (BTC) momentum seems unstoppable, bringing the BTC price past $8,000.

Analysts claim that the bear market has officially come to a close as Bitcoin (BTC) surpassed the $8,000 mark, making this the highest BTC price in the past nine months.

Bitcoin boosted its bullish momentum over the weekend and extended its streak on Monday. It maintained its surge, leading its price to trade at $8,026.69 with a 13.52% 24-hour change at the time of writing.

With the seemingly unstoppable bullish behavior, Bitcoin is poised to surpass $10,000, according to some analysts. Bitcoin bull Tom Lee also believes this is what the BTC price would be when Bitcoin critics begin to experience FOMO.

Lee said in April that crypto winter has officially ended and predicted Bitcoin to reach $14,000 in 2020.

| RELATED: Bitcoin Bull Tom Lee Says ‘Crypto Spring’ Has Come

Meanwhile, economist Alex Krüger said in a series of tweets that ‘systemic buying’ and not ‘retail investors’ are behind the continuous upsurge.

He added that news about the launch of Bakkt may have played a part in the bullish Bitcoin momentum at present.

Other cryptocurrencies has also experienced gains in the past 24 hours. At the time of writing, Matic Network, Ripple (XRP), and IOTA (MIOTA) are at the top with 40,45 percent, 23.26 percent, and 20.08 percent, respectively.

| RELATED: BTC/USD Rockets Past $6,300 as Altcoins Nurse Losses

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