Bitcoin Price Likely to Surge to $13,000 after Trading Sideways: Crypto Analyst

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  • Bigger picture is still looking fine, long term trend is still active, a crypto analyst says, though BTC may trade sideways for a while

Bitcoin Price Likely to Surge to $13,000 after Trading Sideways: Crypto Analyst

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Earlier today, the Bitcoin price rose to the $7,790 area and still keeps growing. As reported by U.Today earlier, Bitcoin has entered a buying trend and so it could be dangerous to short BTC as the flagship currency aims at retaking the $8,000 level.

Bitcoin price CMC
Image via CoinMarketCap

Some analysts, though, keep betting on the bearish effect on the market, saying the Bitcoin price may go down. But others are joyfully saying that even though BTC might not surge right away, the overall uptrend is still intact.

$13,000 level after a few months of trading sideways?

Analyst @CryptoMichNL points out that even though the trendline inside the downtrend is still holding up, overall, the long term bullish trend remains.

Bitcoin could trade sideways for a few months, he adds. However, on the chart, the analyst has drawn a rising line to mark the aim he expects Bitcoin to reach after that – the $13,000 area.

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Bearish forecast: $6,300

Another trader and analyst, @nebraskangooner, seems to be sharing a bearish sentiment. He says that from the current level, the Bitcoin price is likely to decline – all the way to $6,300.

Bitcoin bulls should be purged from Twitter: Peter Brandt

Previously, U.Today reported that the veteran trader Peter Brandt spoke negatively of those Bitcoin bulls who are expecting instant enrichment and do not accept the fact of the market volatility.

He believes Bitcoin will be able to hit the $50,000 target only once the last bull disappears from Twitter.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.