Analyst Who Called 2018’s Bottom Says Bitcoin Will Soon Move Towards $12k
Bitcoin has stalled over the past few hours. The cryptocurrency currently trades for $11,300, far above last week’s lows but below the highs of $11,750. Bitcoin is down 2% in the past 24 hours after news revealed that OKEx has frozen withdrawals for the time being. The cryptocurrency remains in a precarious position due to that news events. Purely from fundamentals, though, analysts say that Bitcoin has short-term upside. One historically accurate analyst said that […]
Related News
While Bitcoin has seen local volatility, the coin is in a tight range on a medium-term basis. The coin has traded between $10,000 and $11,000 over the past few weeks. BTC now trades for $10,650 as of this article’s writing, smack dab in the middle of the range. A top analyst says that Bitcoin is primed to retest $11,000, then undergo a rejection in the coming weeks. This rejection could take BTC towards the CME […]
Bitcoin has continued to explode higher as the U.S. dollar drops. BTC trades for $14,500 as of this article’s writing, the highest price in over two years. Analysts think the coin extends higher as the price is still positioned in an uptrend. Bitcoin Could Hit $15,000 Next, Analysts Say Bitcoin has continued to explode higher in the face of a strong drop in the U.S. dollar as the election continues. The price of the leading […]
Bitcoin could undergo a strong correction in the weeks ahead as it forms a bearish short-term to medium-term outlook. This is compounded by a futures market positioning “overhang” noted by JP Morgan analysts. Historically Accurate Analyst Fears a Strong Bitcoin Drop Bitcoin could undergo a strong drop towards $10,000 once again, says the trader who in the middle of 2018 predicted the bottom price to a 1.5% accuracy. The analyst noted that the cryptocurrency is […]
With bitcoin rallying, all the focus has been on predicting where the price of the asset will be by the end of the year. The digital asset is undoubtedly going to enter a period where various crashes will send the price down, popularly known as a bear market. Not a lot of attention has been paid to where the price of the asset might bottom out when the market inevitably goes into another bear market. This usually long stretch of low momentum has seen bitcoin lose 94%, 87%, and 84% of its peak value respectively in the last three bear markets. One recurring theme of the bear markets has....
Crypto analyst Altcoin Sherpa recently suggested that the Bitcoin bottom isn’t yet in and that the flagship crypto could still drop to new lows. Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000. He noted that this would mean a “few more nasty wicks, a few more liquidations, and....