With each new jump in Bitcoin prices, bolder predictions are made regarding its next goal. In his article for Forbes, analyst Naim Aslam from ThinkMarkets says that the price of the main cryptocurrency could reach $ 10,000 this (or next) week.
According to the analyst, investors may underestimate the full potential of Bitcoin volatility. At the end of 2017, it took Bitcoin only a few days to rise from $ 10,000 to $ 20,000 dollars, and therefore it is possible that the next level of resistance may cause a big bullish jerk.
"If you are not ready, then … be ready, because the price of Bitcoin is approaching the previous explosive level of $ 10,000, recovering half of its losses relative to the historical maximum, which should greatly perplex those who said that Bitcoin will never recover," – writes Aslam.
“This is the most effective asset in 2019, with a 140% profit since the beginning of the year; Bitcoin grew by 70% only during May. ”
“I think that the price of Bitcoin will probably make a breakthrough to the level of $ 10,000 this week or next if the pace of the price impulse continues. The price is trading well above the important moving averages (50, 100 and 200 days), and the most important among them is the 242-day moving average, ” he added.
“I’m sure that as long as the price stays above this moving average, this bullish race will continue.”
At the same time, Alsam is already predicting where the following resistance levels may appear:
“The following important price levels are: resistance $ 10,000, then $ 15,000. It is very likely that the price can break through the $ 10,000 mark and reach $ 12,000 or $ 13,000 and then make a correction to its support by $ 8,000 before the new impulse tries to reach the level again $ 15,000, ” he concluded.
In mid-April, when Bitcoin was trading at $ 5,200, Clem Chambers in his article for Forbes gave a rather bold forecast . He wrote:
“I think Bitcoin will soon reach $ 6,000 and go to $ 10,000. I will update my forecasts for $ 10,000.”
Well, we hope that we will see a new forecast from Chambers this week!
Publication date 29.05.2019
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