Bitcoin Could Keep Growing After Breaking Above $6,000 According to Crypto Analyst

Bitcoin was able to surpass $6,000 and maintain this price level for over 24 hours. This is very positive for the digital asset that has also increase its market dominance and it is close to reaching its highest point since December 2017.

Some analysts believe that the digital currency could keep growing in the coming weeks.

Analyst Suggest Bitcoin Rally Might Not Be Over

Several experts and individuals believed that Bitcoin was going to experience a small drop after reaching $6,000. This was a very important level for the digital asset since it fell under it back in November 2018. This was a very important support level throughout 2018.

According to the popular crypto analyst on Twitter, The Crypto Dog, Bitcoin could accelerate higher before it hits a resistance level would make it fall in the market. The current price surge started in April when the digital currency surpassed $4,200 and it was approaching $5,000. In May, Bitcoin finally crossed the psychological barrier of $6,000 and it could keep growing in the near future.

The Crypto Dog said that he would like to see how Bitcoin will be handling the $6,350 zone and how the digital currency will behave around it.

Meanwhile, Alex Krüger, another recognized expert and analyst, said that the next level is expected to be $6,400, close to the zone mentioned by The Crypto Dog. According to Krüger, this was the most traded price during 2018.

In addition to it, Murad Mahmudov, a popular trader, said on Twitter that this bull trend has a “bit of juice” left to keep expanding.

There is another trader and analyst, Mayne, that believed that Bitcoin could have reached a bottom of $2,000. But in order to reach that bottom, the digital currency would now have to experience a similar price drop as from $20,000 to $6,000, thus, it seems that the market bottomed at $3,150 in December 2018.

At the time of writing this article, Bitcoin is being traded around $6,115 and it has a market capitalization of $108 billion. In the last 24 hours, the digital currency increased by 2.88% while most of the altcoins are falling during the same period of time.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide