Bitcoin To Move Into The $13,000 Region, Analyst Predicts
Bitcoin to $13,000
Bitcoin has made a significant surge in price since the March 12 sell-off that saw the flagship cryptocurrency trade at a little below the $4,000 mark. The digital asset grew considerably with it moving as high as $5,000 in the weeks that followed, and a further movement around $7,000 was seen. The leading crypto, however, left the $7,000 mark on April 23 and by April 28, Bitcoin left the $7,500 mark and traded at a new $7,925 high.
The flagship digital asset currently trades at a little above $9,000 mark on April 30. Traders and experts are saying they are hoping this new surge of Bitcoin is not a hoax and are backing the coin to move as high as $13,000 in the coming weeks. A crypto analyst and trader with the name ‘Galaxy’ on social media has reiterated that he believes that the cryptocurrency is heading for a new $13,000 high in the coming weeks a feat that last happened in July 2019. Galaxy was quoted as saying on twitter when he said “The fact that BTC is going to $13K simply cannot be ignored. You might not believe it now, but as the days progress, you will see it too”.
Another Trader who goes by the username @anondrancrypto had backed up Galaxys claims when he stressed on the fact that Bitcoin has finished its long and overdue retracement in the crypto market. He said he hopes the digital asset moves further in the encouraging price region to make a new high around the $9,000 mark. “62% Golden retracement complete. Next target $9000 for $BTC” he said.
Bitcoin made a massive decline on March 12 when the price of the digital asset collapsed losing up to 50% of its value and the decline continued till March 13. The decline in the amount of the digital asset saw other cryptocurrencies follow in its pattern with the move prompted a massive sell-off of cryptocurrencies all over the world. The decline saw Bitcoin move from $7,000 region to trade at $3,000 region and the day was soon nicknamed “Black Thursday”.
A Bitcoin trader and enthusiast has stated that since Bitcoin has overcome the $7,800 resistance that was set in the days after the sell-off, it would only go higher. The trader “Satoshi Flipper” was quoted as saying “$BTC 7800 was v strong resistance & we finally flipped it. If you think we’re just going to lose it now, then I have a bridge to sell you. And if you weren’t shorting 7800 resistance but now you’re shorting support because we pumped, then I have a few more bridges to sell you.”
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