Analysts: Bitcoin Price Expected to Hit $848 Soon
The bitcoin price is hovering around $604. That’s another two-dollar rise since our previous price piece. Nothing to get terribly excited about, but hey — every step counts. Analysts Forming Consensus on Bitcoin Price. Viewing the evidence, it would appear that bitcoin’s present shift to higher ground is undoubtedly occurring in incremental stages (a few dollars at a time). On the plus side, most analysts seem to be unanimous in the idea that bitcoin is again prepping for a massive bull run, and is about to take a long, and much needed vacation up north. One source explains: “Bitcoin price....
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Multiple indicators and on-chain metrics reflect confluence pointing to an improving market, but technical analysis still raises the possibility of Bitcoin dropping to new yearly lows. On July 26, Bitcoin (BTC) price dropped below $21,000, giving back the majority of the gains accrued in the previous week and returning to the $23,300 to $18,500 range that Glassnode analysts describe as “the Week 30 high and Week 30 low.” A handful of analysts and traders attribute the July 26 to July 27 Federal Open Market Committee (FOMC) meeting and the expected Federal Reserve rate hike as the primary....
The bitcoin price is rising like nobody’s business! After a disappointing period of hanging around $570, bitcoin has now jumped to $595 at press time, a near $25 spike that occurred in just a few hours. Bitcoin Price Confirming Past Predictions. Such a rise was to be expected, as discussed in our previous price pieces. The longtime sentiment among analysts was that bitcoin was preparing itself for a massive bull run, although no one predicted it would begin this early. Bitcoin has certainly surprised us with its rapid rise in price. Some analysts claim they’ve felt the start of a bull run....