Bitcoin is a crypto celebrity: its every movement is always under the spotlight. Twitter is full of posts and comments about BTC prospects. Both famous crypto pundits and unknown enthusiasts come up with ideas and theories. Let's check out what they think about the nearest future of Bitcoin and its price.
Bitcoin predictions from Twitter
A lot of Twitter users agree that Bitcoin needs to reach the $4K threshold to gain momentum. Just look at it:
$BTC - keeping things in perspective, #bitcoin still needs to break vertical resistance here at $4k then break first horizontal resistance $4114 and then after bounce resistance top at $4240... then we can talk about a real trend change otherwise lower highs are still in play... pic.twitter.com/f6UbM060Dt— Chonis Trading (@BigChonis) February 19, 2019
On February 18th, Bitcoin finally reached the $4,000 target, and it split crypto enthusiasts into two camps. Like it was stated in the previous tweet, some users are sure that BTC will continue growing from now on.
The second half of users are sure it’s a trap:
UNLESS a FAKEOUT #bitcoin began its new bull run at the lower arrow point, but very importantly CONFIRMED it at the upper arrow point. I'm sure many are in #disbelief right now, but that is normal after a long bear market. #bullrun #XRP #TRON #IOST #TRX #notfinancialadvice #DYOR pic.twitter.com/zRG9YqeoRx— TheCryptoArtist (@TheCryptoArtis1) February 20, 2019
On February 20th, the world has witnessed the largest amount of Bitcoin trading:
One explanation was provided by DataLight:
In the last 12 months, the average value of a #bitcoin transaction didn't change much. That's why the increasing sum combined with the booming daily number of such transactions makes us believe there’s some big money entering the market right now. pic.twitter.com/RwgD9JlHoj— DataLight (@DataLightMe) February 19, 2019
This is what has partially triggered Bitcoin’s growth. However, there are many factors contributing to BTC recovery. For example, Twitter user @AlecZiupsnys came up with a Bitcoin prediction of $50,000. His forecast is based on such facts as:
High global stress
Rising interest rates
Record buildup in US government debt
Struggling of the traditional market
Thus, the situation is quite questionable. From one point of view, Bitcoin might be starting to gain in value. From another – it might be a temporary situation.
Sooner or later, Bitcoin should gain in value because it renders a lot of benefits. Even Elon Musk has admitted it makes more sense than paper money:
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.