Although the world's most popular cryptocurrency is still trading in its long-established range between $ 4,000 and $ 4,100, some analysts believe the moment of truth for Bitcoin is near. What will it be for Bitcoin? $ 5,500 or $ 3,000?
Bitcoin has been trading between the $ 4,000 and $ 4,100 range for the last 10 days, and today Bitcoin's trading behavior was no different. Bitcoin is currently trading at a price of $ 4,020 while showing a minor loss or -0.24%, according to coinmarketcap.com.
Most analysts are looking at the upper bound of BTC's current trading range, the $ 4,200 price mark, which will most likely to act as a level of serious resistance again.
However, a Switzerland-based cryptocurrency analyst, who goes to the Twitter act, Crypto Krillin, recently took to Twitter to state that the moment of truth for Bitcoin is very near. According to the crypto trader, or BTC will fly straight to the $ 5,500 price mark, or we will re-visit $ 3,000.
The moment of truth for Bitcoin is very near.
We fly straight through the cloud to 5500, or we visit 3000. I'm leaning bullish. pic.twitter.com/15a9QWXpKK
– Crypto Krillin ॐ (@LSDinmycoffee) March 23, 2019
Bitcoin or Gold?
The Swiss cryptocurrency trader is not the only crypto analyst who seems to be convinced that Bitcoin's upside target currently exists around the $ 5,500 price mark.
Just a few days ago, Chepicap reported that Galaxy, another popular cryptocurrency analyst on Twitter, explained to his nearly 50k followers that bitcoin is pointing to a promising potential for the number one cryptocurrency, hinting to and imminent surge or 35% to $ 5500. [AccordingtoBulkowski'sstudymorethan60%ofascendingtriangleswithdecliningvolumeendupbreakingupwards
with an average price rise of 35%
– Galaxy (@galaxyBTC) March 23, 2019
Despite many analysts reporting optimistic views on Bitcoin's near-future upward breakout, another widely The Crypto Dog is known as the Crypto Dog, and has recently come to a standstill for $ 3,500 for bitcoin to the short term, adding that the market conditions have not changed over the last few days.
Read more: Bitcoin can surge as high as $ 400,000 According to crypto technical analyst known as DonAlt, we can only conclude crypto winter over until Bitcoin crosses the $ 4,600 threshold and moves towards $ 5,000 and $ 6,000.
"Volume isn't what will tell me the bear market is over," he said. 'A bullish market structure along with a break of at least $ 4.6k is. It's interesting that we had so many altcoin pumps while the general market cap hasn't really changed.
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