The crypto market looks pretty green today following a few days of trading in the red.
BTC to reach $100k soon
Peter Brandt said that BTC is holding the line on a crucial level of support. The man is known for calling Bitcoin’s massive fall after the 2017 bull run, and he said that BTC’s sharp bounce is aligning with his analysis that BTC is still in a long-term uptrend.
During an episode of Bitcoin Live, Brandt says he believes BTC is on a slow but steady trajectory toward $100,000.
“The big picture in Bitcoin remains that we are in a historic bull trend. And we can see that in a sequence of higher highs [and] higher lows,” he said.
Brandt continued and said, “I believe in the long-term narrative of Bitcoin – that Bitcoin is, indeed, going to $100,000, if not substantially more. I buy the long-term bullish narrative in Bitcoin-based not only on what I understand to be the fundamentals but also what I see to be the overall classical chart context of the market.”
Bitcoin $BTC has apparently held at important support pic.twitter.com/VqdX7B6Mmh
— Peter Brandt (@PeterLBrandt) December 18, 2019
XRP will rebound, but slower compared to other cryptos
An analyst known in the industry as Credible Crypto tells his 50,000 followers on Twitter that he believes XRP will rebound, but it will likely take longer to recover than the rest of the crypto market.
On a closer look it does look like some alts did perform better than $XRP, not sure why they weren’t included in any of the lists I’ve found online. Regardless, it doesn’t change the fact that XRP was still one of the best performing assets of 2017. Even the best has to rest.
— CrediBULL Crypto (@CredibleCrypto) December 16, 2019
He said that XRP was the best performing crypto during the last bull run but it will take a bit longer to recover in terms of pricing.
The analyst also said that “you’d still be up 3x in USD terms had you invested in XRP over BTC prior to the last bull run, even at its current state.”
At the moment of writing this article, XRP is trading in the green and the digital asset is priced at $0.194693.
In other news, Ripple’s CEO, Brad Garlinghouse, predicts a massive 2020 for the crypto industry.
