Highly-Followed Analyst Explains Why Bitcoin’s Price Will Reach $8,400 In Next Few Weeks
Analysts Suggest BTC To Reach $8.4K In Next Few Weeks
Bitcoin Cash has seemed some impressive growth last week and there are those that are hoping – even predicting – that the uptick will continue. For the first time since November 2018, BTC has reached above $5,000 and the prediction is that it will reach as high as $8,400. The prediction was made by a prominent trader when he posed a tweet on Twitter. To back his prediction, he pointed to Bollinger Bands (BB), which is a measure of volatility, and entry and exit points into the market. Interestingly enough, he does note that he also sees BTC getting back to around $4,700.
Another trader, Brian Kelly, shared with CNBC, that he believes that Bitcoin will reach a max of $6,000. He stated,
“Probably a reasonable target is closer to $6,000 for this move.”
Analyst Filb Filb also pointed to a chart that depicts pre halvening similarities between 2015 and 2019. The chart tries to forecast future price trends and suggests that bitcoin may be able to reach beyond $6,000.
At this point, there is no telling how long the rally will continue. Of course, the hope is that it will just continue.