Analysts Flip Bullish En-Masse Predicting Bitcoin’s Price to Jump Above $7,000 BTC/USD


Just like April, March has started off on a good note as we saw Bitcoin price going from around $5,130 to $5,775 yesterday. Today, the leading cryptocurrency surged to just above $5,800.

Bitcoin (BTC) Live Price

1 BTC/USD =$31,196.4977 change ~ -1.91%

Coin Market Cap

$580.01 Billion

24 Hour Volume

$17.96 Billion

24 Hour VWAP

$30.77 K

24 Hour Change

$-596.67

At the time of writing, BTC has been trading at $5,734 with 24-gains of 1.34 percent on Bitstamp while on Bitfinex, it is trading at $6,068 with a premium of just about $300.

BTC/USD, Source: TradingView

As the top cryptocurrency makes a strong upward move, analysts and experts are turning bullish en-masse.

Majority of the market participants are turning bullish but there is one crucial level that Bitcoin needs to cross and that is $6k. It has been predicted and expected once this level is broken, we could go straight up to $7k and closer to $8k.

Michael Novogratz of Galaxy Digital is also betting on Bitcoin longs to win this rally and surge upwards.

Crypto analyst and trader, MagicPoopCannon in his bullish scenario says in terms of potential surprise explosion to the upside, we may be breaking out of a cup and handle pattern which could see Bitcoin exploding to about $7,822 level.

As a top for this move, this raises the 61.8% retrace to just below the recent price action. Though Magic posted a bullish scenario which is a technical possibility, he is not bullish rather bearish as he says there is just way too much overhead resistance and the indicators show sell signals.

As we recently shared the top cryptocurrency is perfectly on its way to $1 trillion market capitalization in the coming years as it follows the stock-to-flow model.

“Bitcoin approaching Stock-to-Flow model value ($6500) + RSI 52 and rising .. follow the rainbow.”

Meanwhile, economist and crypto trader, Alex Kruger shares the point when the bull market will start for sure. In his latest analysis, he shares the current level Bitcoin is trading at that is $5,750 which was the 2018 low prior to November crash from $6k to $3,200. About the 2018 bear trend, he notes how it ended once the flagship cryptocurrency was above $4,200.

We are already seeing the green effect in the market that gives the indication that bulls might be just at the door as Bitcoin market cap crosses $100 billion and the total market cap rises to $185 billion as altcoins soar in tandem with bitcoin.

As for the bull market to start officially, he says $6,400 is the point which was the most traded price of 2018, above which is the open ground for bulls to take charge of the market.

Bitcoin’s price is $31,196.50 BTC/USD exchange rate today. The real-time BTC market cap of $580.01 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $17.96 Billion and live coin value change of BTC -1.91 in the last 24 hours.

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