New Bitcoin Price Prediction Is Out – How High Can BTC Go? | CryptoGazette
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There are all kinds of optimistic price predicitons for Bitcoin these days after the market seems to be taking a recovery path following multiple price corrections. Check out the latest price predictions about the king coin.
New Bitcoin price prediciton is out
A popular crypto analyst known in crypto circles for correctly predicting Bitcoin’s massive 2018 meltdown says BTC is actually in a “historical bull market” despite trading in a wide range for months.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $44,470.
In a new interview with StockCharts, Brandt says Bitcoin is currently taking a breather after crypto assets surged by around 17 times since the crash of March 2020 that was triggered by the Covid-19 pandemic.
“You know Bitcoin is in a big trading range. It’s in a very historical bull market, an incredible market. I’ve traded for 47 years, never seen a bull market like Bitcoin.”
He also said:
“But you know we deserve to be in a trading range here because, after all, from the March 2020 low into the April 2021 high, we saw the market go up 17x. And so we’re just taking a breather.”
According to the veteran trader, Bitcoin will at “some point” break out of the trading range and rally strongly. Here’s what he said:
“I believe at some point we’re going to resolve this trading range and have another big run in Bitcoin. But we certainly for right now are just kind of stuck in the mud.”
But on the other hand, the veteran trader also said that BTC could also fall below a price of $28,000, triggering a final capitulation.
Earlier today, we revealed that there are a lot of bullish indicators for the crypto market.
A leading crypto analyst says Tether (USDT) dominance and the US dollar index (DXY) are flashing major bullish signs for crypto. Check out our previous article to learn more.
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