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.

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.

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.

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.

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.

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