Test Signalling Bitcoin Bull Run Just Flashed – XRP And ETH Expect Rallies
The crypto market looks pretty good today, with the most important coins trading in the green.
The king crypto is also trading in the green, and BTC is now priced at $7,288.51.
The day before, the most important digital asset in the crypto space was able to surpass the $7,000 level, and experts hope that we won’t be seeing BTC drop below this level too soon.
Despite the huge volatility in the crypto space, there are still various optimistic predictions popping up in the industry.
New Bitcoin rally around the corner
An indicator that forecast Bitcoin’s rise to $10k back in January is again suggesting a rally that may be on the horizon.
The DVAN buying and selling pressure gauge just found a positive divergence and flipped bullish according to Bloomberg’s experts.
Bitcoin is struggling to hold onto gains following a prolonged bout of selling, but at least one measure shows that a rally could be ahead https://t.co/RbCmpTx0W7
— Bloomberg Crypto (@crypto) April 3, 2020
The indicator shows the underlying momentum of a digital asset in order to identify buying and selling pressure.
Bloomberg Intelligence expert Mike McGlone said that he’s expecting BTC to stabilize this year and pass a “key test for Bitcoin’s transition toward a quasi-currency like gold.”
The online publication mentioned above also revealed some pretty optimistic predictions involving a surge in price for both ETH and XRP.
At the moment of writing this article, ETH is trading in the green and the coin is priced at $169.34, and XRP is also trading in the green. Ripple’s digital asset is currently priced at $0.196531, and it will be hitting $0.20 soon.
We’re looking at a really exciting market rally since the day before, and the predictions are getting more and more bullish these days for most important coins in the market.
Bitcoin’s halving event is right around the corner, and this is one of the price triggers, according to crypto analysts.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.