Since yesterday, the price of the flagship cryptocurrency has been trading above the $8,500 mark, reaching a high of $8,841 earlier today.
However, at press-time Bitcoin has slumped a bit and is sitting at $8,633. Still, crypto traders are bullish and are looking forward to a further price boost, provided that the bulls hold the $8,500 level.
‘We start pushing towards $10K in a day or two’
Crypto trader widely known as ‘Galaxy’ on Twitter has recently published a bullish tweet, saying that the market needs to hold the Bitcoin price not lower than the $8,500 level. This is the condition, he says, under which the price is likely to advance towards the victorious $10,000 spot within a day or two.
‘Everything retracing? That's not a bad sign’
Analyst @CryptoMichNL points to the fact that today, the market is in the red with the majority of crypto assets reversing. That is not necessarily a bad sign, he tweets. He assumes that even if BTC corrects to $8,400, the situation will remain bullish.
He also provides a similar forecast for ETH, EOS and ONT.
Trader Scott Melker also seems bullish as he recently tweeted that he bought more Bitcoin while sitting at a Celine Dion concert with his family. In his tweet he mentions potential bullish divergences.
I just bought some $BTC from a Celine Dion concert that I’m half paying attention to. Happy wife, happy life. Dipped to my orders with some potential hidden bull divs. Let’s go.— The Wolf Of All Streets (@scottmelker) January 16, 2020
‘The bearish trend is still strong’
Not everyone remains bullish, though, while looking at the charts on their monitors. A trader going by the nickname ‘Joker’ has recently tweeted that it is usual for the market sentiment to remain negative during the first wave of a new bull market. He warns:
“The bearish trend is still strong.”
$100,000 per 1 BTC over next few years
Earlier, U.Today covered a recent survey from Bitwise. The document said that around four percent of financial advisors in the US believe that the Bitcoin price may surge to over $100,000 within the next few years.
Still, the majority of the participants of the survey reckon that the ‘father crypto’ will be trading between $7,000 and $24,999 in the near term.