The other day, the flagship Bitcoin cryptocurrency rate reached $ 10,600, soon after that the price rose to $ 11,200. What do analysts think about the latest market events?
Some crypto experts associate the recent BTC rally with a phenomenon in the market like FOMO (Lost Benefit Syndrome). For example, analyst Tom Lee suggests that it could serve as a trigger for the rise in the price of Bitcoin, even up to $ 40,000. Despite the optimistic forecasts of some investors in the crypto community, there are also analysts who believe that in the near future the rate is unlikely to rise above $ 11,500. This opinion is shared by analyst Nunya Bizniz, who, in his Twitter publication, mentioned the Fibonacci line numbers on the Bitcoin chart and noted that similar dynamics had already been observed on the market in February and March 2018.
Meanwhile, a post appeared in the CryptoFibonacci blog, in which traders are advised to “take a break” and take profits at the time when Bitcoin will be trading around $ 11,500- $ 11,800.
$ BTC Weekly Chart.
We’re taking a breather. But, BTC has a mind of its own. If you have profits, I’m getting closer to the 11.500-11.800 area, IMO. #BTC pic.twitter.com/Yvesi7UD47
CryptoFibonacci (@CryptoFib) June 23, 2019
The suggestion Nunyua Bizniz supports analyst Josh Olshevich. He believes that $ 11,400 will be the key resistance level for BTC. If the cryptocurrency rate does not exceed this level, then we should expect a pullback to $ 9,000.
At the same time, an extremely optimistic forecast is agitated by a crypto-community analyst Peter Brandt. He stated that BTC aimed at overcoming the $ 100,000 price mark.
Bitcoin takes aim at $ 100,000 target. I’ve been bangling back to the parabolic phase dating back to 2010. Bitcoin is a market like no other. pic.twitter.com/wE4j3riMgI
Peter Brandt (@PeterLBrandt) June 22, 2019
He explained that the cryptocurrency is experiencing a fourth parabolic phase since 2010. For 45 years of his activity, Brandt has not seen anything of the kind, for him the BTC market is unique.
