Bitcoin price has updated its 2020 high, rising above $ 11,000. The next stop in the BTC rate may well be $ 300,000. In this article, we present the predictions of various traders such as Sunny Decree, Tyler S, Crypto Zombie, Tone Vays, and Davincij15 for Bitcoin rate after the current rally.
Sunny Decree has become 100% Bitcoin bull. In his video, which came out the day before the strong rally, he notes how important it is to finally break out of the global three-year downtrend. But he also says that he will take the side of the bulls only after the price breaks through $ 10,500. As we all know, this has already happened and now there is a battle for $ 11,000.
But there is also an important warning in his video, we are talking about a gap in the Bitcoin futures chart on CME.
Therefore, the pessimists may well be right, because this is Bitcoin and you can never be 100% sure about it. But as Sunny Decree rightly said, he has enough Bitcoins and is ready to hike to a new ATH. But do those who stubbornly wait for another rollback have enough Bitcoins?
Analyzing the Tyler S forecast, we will immediately start with the fact that the next important resistance on the path of Bitcoin to $ 20,000 will be the $ 12,000 mark. Further, according to his forecast, he does not see any serious resistance, for example, at $ 14,000 or $ 16,000, and the next the stop is waiting for bitcoin only around $ 20,000.
The trader notes that at the moment we are not yet in a state of parabolic growth, it is also native, as it was in the fall of 2017.
According to his estimate of the Bitcoin cycle, we are somewhere in the middle of 2016. When the long-term bullish trend has almost formed, but some time has yet to pass before to the moon. And just in the process of this growth, money from altcoins will flow into Bitcoin and its market share will go up.
This is a normal process that will continue as long as the first cryptocurrency does not update the current maximum price, and the media does not pick up on this news and bring new people infected with the loss of profit syndrome to the market. Thanks to this, Bitcoin can quickly rise in price to $ 30,000 or $ 40,000 and go even further.
This is an extremely bullish forecast for Tyler S, which was expecting a pullback to $ 7,000 just over a month ago.
If the previous forecast seemed too optimistic to you, then this one will surpass it six or even seven times. Let’s start with why Crypto Zombie believes this is a real bull market and has started right now.
It shows us four MA at once, and at the moment the price is above all of them at the same time. Moreover, we have two golden crosses at once and a certain arrangement of lines from top to bottom.
This chart was last seen in 2019 when the Bitcoin price almost reached $ 14,000.
And before that, we saw such an arrangement of moving averages in 2016, when Bitcoin began to move towards the current high in price.
And if we proceed from the fact that the road to the native is open, then here is another model of Bitcoin. It demonstrates that the next peak in value will occur in July 2021, that is, in about a year. And at that time, the bitcoin rate will reach $ 300,000. Therefore, according to the cryptocurrency market cycle, we will get a long bearish trend for a year or more. But who cares if the Bitcoin price hits $ 300,000 in just a year?
When we looked at the Tone Vays’ forecast we wanted to shout not to remove the red arrows down. The thing is that its new indicator indicates a trend reversal on a monthly timeframe. According to this indicator, the trend changed a few months ago, probably in April, and since then the market has only looked up.
The trader demonstrates a similar picture on the weekly chart. Its trend reversal indicator has yet to confirm a complete reversal, but this signal is expected at the end of the week. That is, if we close the week above at least $ 10,500, then Tone Vays will move to the bull camp. So far, the chances of this are extremely good, but we must not forget that there is still a lot of time before the end of the week.
And the daily chart, which is also looking upward now. The trader did not want to name specific goals, which is a pity. But even despite possible small corrections, growth in his understanding should continue.
Chris and Davincij15 – two fans of explosive Bitcoin movements from the MMCrypto channel, close our today’s review. And they are very discreet compared to previous guests. So, for Bitcoin, Davincij15 expects a movement towards $ 15,000. But this will not be one rapid run, most likely, in the next few days, the market will arrange a reverse reversal and severely punish everyone who opened long positions. The fall can be $ 1,000 or more. Only after this unloading will we see continued growth and new records for 2020.
They also note that now the so-called altcoin season has come to an end. In the near future, money from altcoins will go to bitcoin. And if we take the forecast specifically for Ethereum, then after reaching the level of $ 320, it will be adjusted. The next target for Ethereum is at $ 380, but before that, the rate should drop significantly from the current values. And you also need to look at what phase bitcoin will be in, whether it will lead the rest of the market.