As Bitcoin continues trading below $7,000, on April 1 the price suddenly pumped eight percent, surging from $6,221 to $6,661 in a massive green candle.
Last year, at about the same time, Bitcoin skyrocketed more than twenty percent, hitting $5,000 for the first time in several months and later on, in June, it reached a high of almost $14,000.
Now, with the BTC halving forty-one days away, traders are making short-term predictions, while some are looking two-three years ahead.
One of them is predicting that, after the halving, Bitcoin may require a couple of years to reach an all-time high of $100,000.
100,000 USD on the table
Trader ‘Moiseiev_Yurii’ from TradingView has shared a long-term forecast, saying that he expects Bitcoin to reach the $100,000 level by the end of 2022.
The reasons he offers are as follows:
“- Price made 5 waves upward from 2011 year
- Now Price trades in ABC formation from 20.000 $ per BTC
- Possible end of wave C is Key Level 1100 $ per BTC
- When price will finish ABC formation then price will start new 5 waves upward
- Possible targets in this case can be round number which everyone is waiting for is 100,000 $ per BTC”
‘$5,000,000 per coin’
Trader @TheMoonCarl has gone even further in his bullish sentiment and stated that, with the halving approaching and the financial system being in a massive crisis, the price of Bitcoin may well hit as much as $5 mln – that’s five times more than John McAfee’s famous bet on which he promised to eat his own privates, but later went back on.
Bitcoin needs to break $6,900-$7,100
Analyst Michael van de Poppe believes that in order to resume the bullish trend, Bitcoin needs to flip the $6,900 level, after which it will be able to reach $8,000.
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