Analyst Mitoshi Kaku Believes Bitcoin (BTC) Could See $5,000 USD During the Next Weeks

It seems that sentiment in the market regarding Bitcoin (BTC) is becoming bullish. Bitcoin was able to be traded above $3,600 during the last few years after being close to dropping under $3,400.

The technical analyst Mitoshi Kaku wrote a new Tweet in which he shows that Bitcoin (BTC) could reach $5,000 in the next ten days. During the last few weeks, Bitcoin has been behaving in a volatile way, with its price fluctuating around 8% several days. Although it has been experiencing volatility, Bitcoin remains close to its lowest point in more than a year, $3,250. Since November, Bitcoin is being traded between $3,250 and $4,300.

Two options I'm looking at right now in terms of targets or movements. Not touching my longs SL in place. Vigilant of the next few days and the Ichimoku action as they will be important to determine my next steps. Higher prices next week have a high probability. $BTC pic.twitter.com/qMC8IbaJiu

— Mitoshi Kaku 👨🏻‍🚀 (@CryptoSays) February 9, 2019

He explained in another tweet that he wouldn’t be surprised at all if the price goes up to $5,000. Nonetheless, he says that this sort of move would need a strong catalyzer to become a reality.

I wouldn't be surprise at ALL, if the price goes straight to $5K in the next 10 days. The conditions are present TA-wise. Obviously that sort of move would need a strong catalyzer, but anything is possible when it comes to price action. $BTC pic.twitter.com/Usdpub8LNj

— Mitoshi Kaku 👨🏻‍🚀 (@CryptoSays) February 9, 2019

Despite Kaku being bullish on Bitcoin, there are other individuals and experts that believe that the market will continue to fall in the future. The crypto trader CryptoUB said that he is waiting to see the reaction around the Range Low before deciding the next move. He is looking for longs close to $3,440 and $3,410.

$BTC – I've been flat since my short was stopped out the other day.

I'm waiting to see the reaction around the Range Low before deciding my next move.

Looking for longs as long as the 1D S & R holds as support (3440 – 3410).#Bitcoin pic.twitter.com/3V4lqWUm8R

— UB (@CryptoUB) February 10, 2019

In the future, this positive candle registered by Bitcoin this week could play an important role in pushing the price higher in the next weeks. Nik Patel, another crypto trader on Twitter, has a similar point of view as Kaku. This bullish weekly candle could lead Bitcoin to reach $6,000 in the next weeks.

We haven't seen a higher-high on the Weekly in well over a year. This would be lovely…$BTC pic.twitter.com/xKPj80Y5h5

— Nik Patel (@cointradernik) February 10, 2019

At the time of writing this article, Bitcoin is being traded around $3,646 and it has a market capitalization of $63.94 billion. In the last 24 hours, Bitcoin lost 0.18% of its value. However, most of the digital currencies in the market are operating stably on Monday.