Main navigation

Bitcoin to Surge 200%: 200-Day MA Indicates Approach of Bigger BTC Rally, Fundstrat Says

Fri, 04/05/2019 - 11:36
article image
Alex Dovbnya
??Analysts believe that BTC might continue with its rise, since the asset’s price is approaching the 200-day MA for the first time in over a year
Bitcoin to Surge 200%: 200-Day MA Indicates Approach of Bigger BTC Rally, Fundstrat Says
Cover image via U.Today
Read U.TODAY on
Google News

As per a recent article by, it seems like the crypto market is in for some good news. Fundstrat Global Advisors, founded by Tom Lee, reports that Bitcoin is about to surge 200 percent.

Charts are showing good signs

Early this week, the major crypto asset suddenly rose by almost 20 percent. Since its ATH in December 2017, this has been the best return of the price in percentage, which only lasted one day, however.

Then on Wednesday, the BTC/USD trading pair jumped to $5,022, and the BTC price got 50 percent higher after the minimum Bitcoin hit in December 2018 – nearly $3,200.

Bitcoin’s Real Value Is $14,000: Tom Lee

Fundstrat Global Advisors has calculated that if Bitcoin’s technical figures continue playing out, BTC may eliminate a great part of the losses the market suffered in 2018. For this to happen, BTC must close above its 200D. Then its win-ratio will total 80 percent. If it remains under the 200D, the ratio will be only 36 percent. This is what a research note of the fund says.

Charts are showing good signs

“Based on BTC’s trading history, a move above the 200D for BTC is meaningful statistically. When BTC is above its 200D its win-ratio is 80% compared to a mere 36% when it is below its 200D.”

Forbes: 95% of Exchange Volume Can Be Wash Trading, Pushing Bitcoin Price Up

BTC going above 200D is a ‘big deal’

Just two days ago, the 200-day MA was fixed at the $4,620 level. This means that a jump by 193 percent would get BTC to rise to $13,500. This price has not been around since January last year.

The next resistance level is expected to be $6,000.

A popular crypto analyst on Twitter, CryptoHamster, also encourages traders to face a BTC correction and then see it surging further than it has now.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at