Recently, Bitcoin has managed to overcome the resistance line and break through the $5,300 level. That sparked a fire of optimism in traders’ minds. However, bears don’t sleep and strive to upset the plans for growth. What do Internet users think about Bitcoin’s future? Let’s read Bitcoin price predictions from Twitter and find out possible scenarios for Bitcoin development. Before we start, here are some interesting statistics about BTC usage in the USA:
Survey Finds 27% Of Those Aged 18-34 Prefer #bitcoin Over Stocks https://t.co/YIFJGqI48N pic.twitter.com/qOdyEaaCgT
— BitcoinAgile (@bitcoinagile) April 30, 2019
Turns out, 11% of Americans own BTC reserves! Doesn’t it signal the growing potential of BTC? Massive adoption has already started, and may lead to the use of BTC payments on a regular basis (at the individual level). With all the chaos taking place in governments, people started realizing that BTC might be a better investment option than fiat. But won’t this bubble burst?
Short-term BTC price perspectives
Not that there’s a 100% guarantee of BTC’s price, but Twitter users see great opportunities and possibilities. Yes, BTC has managed to break $5,300 again, but it has to hold the positions:
#BTC/USD ASIA ?#Bitcoin successful defense of the weekly support (yellow) at $5,123, so price moves for a retest of local resistances at 5.3k @coinbase.
— CoinDesk Markets (@CoinDeskMarkets) April 30, 2019
Weekly resistance (100-period MA): $6,485
CMF: Uptick in buying pressure
Bullish if prices manage to hold abv 5.1k$BTC pic.twitter.com/bRohqKSGnx
The crypto market in general is about to go through the new bull wave:
Here we go ? Bulls broke north of the horizontal resistance like I imagined, and are currently attacking the support of the trading-range, trying to work its way back in. Watch the alts from here on out; could be a suitable time for some relief bounces...$BTC #Bitcoin 6Hr pic.twitter.com/2fOpRHCCCi
— FizeekMoney (@FizeekMoney) May 1, 2019
On the contrary, some are convinced that the last successful period for BTC is about to end, and it will soon reach the bottom:
Short-term Analysis for #Bitcoin. pic.twitter.com/IsXDEI0cqp
— AskMeHow (@AskMeHowToShort) April 30, 2019
As for the bottom line, opinions differ: while the majority of users predict the BTC bottom will be around $4,000-$4,200, others claim the bottom is around ~$1,800.
A few technical indicators signify that BTC’s bearish trend is about to return on the market. Look at this chart:
Sold the risk on my #bitcoin scalp long here. Looks like a OBV bear div is forming on short timeframe. pic.twitter.com/k7GzVR5D8y
— MrJozza (@MrJozza) May 1, 2019
Judging by the history of cryptocurrency price, the massive bearish market could have always been predicted according to some certain signals. At the moment, we have to wait for another similar signal and watch both BTC’s performance and the overall condition of the crypto market:
Not trying to be #bear #bearish or anything, but remember, crypto moves in cycles. Using the fear and greed meter, we can see prices are good to buy when under 20 and good to sell when over 60. We are missing a buy signal. Drop coming soon. #bitcoin #ethereum #litecoin pic.twitter.com/hrXRqZREsQ
— Johnny (@DR6am) May 1, 2019
However, the recent drop might be the right time to enter the market before it’s too late:
Bitcoin finally on the move as predicted with initial target @ 5500, this means other coins start to rise, get in no time to waste #cryptocurrency pic.twitter.com/xuvbqh4JDz
— BestRankedCrypto (@best_ranked) May 1, 2019
Long-term BTC price projections & trading plans
If you still doubt whether BTC trading is profitable, here’s a hint for you:
$BTC #BITCOIN to $14,000 by eoy argument
— Crypto Tone (@Crypto_Tone1) May 1, 2019
MONTHLY CHART (BLX)
- buy signals printed for most charts on the Monthly
- 1st time since the end of the bear in 2015
- stoch RSI starting to curl (looks similar to 15')
- 50ma on the monthly is has shown to be major support pic.twitter.com/95199zueH0
However, if you’re not ready to wait long, you can try staking on shorts. In the current market conditions, many traders prefer shorting and are switching their attention to alts:
#Bitcoin Dominance rejected hard off a long term & stiff trend line. Looks like a good time to scale into $alts as many have bled pretty dry recently. $btt $zil $tomo $bolt $neo pic.twitter.com/EPYDqTOVii
— Hinktoshi (@lordhinktoshi) May 1, 2019
Final thoughts
When it comes to Bitcoin price predictions, no one can provide 100% reliable forecasts – despite the growing stability, BTC surprises us with its sudden twists and turns. In the long term, it’s possible for BTC to reach the promised $14,000. However, in the short term, it might be volatile. The recent $5,300 price is not a complete victory over bears – they are here, waiting to break support.
Alex Dovbnya
Valeria Blokhina
