Bitcoin (BTC) Will Reprotedly Hit $50k
Bitcoin is currently trading in the red on CMC, and the most i9mportant coin in the market is priced at $10,686.81.
BTC expects a massive bull run
Smartereum notes that BTC is forming its fourth monthly “Doji Candle” according to observers.
This candle formation signals uncertainty about the price of the coin.
The online publication notes that when several Doji Candles form, it means a massive bull run for BTC is on its way.
More expert voices are saying that BTC will be hitting $11k again sooner rather than later.
The online publication said that “Bitcoin had a sharp increase in price that saw it move to the $11,000 mark before dropping down to the $9,000 region. As the Bitcoin currently nears the $11,000 mark again, it remains increasingly uncertain if Bitcoin will experience another rejection at that mark or not.”
BTC to hit $50k
They also quote a popular crypto analyst:
“Bitcoin is very much lining up with the big macro picture…it is a rocket ship poised for a launch… Apparently, the coin should be considered a great macro asset at the moment”, Raoul Pal, a popular crypto analyst, and economists recently explained.
Smartereum mentions another crypto analyst who goes by the name Moon Overlord on twitter and said that BTC would hit $50k soon.
“There have been three Doji monthly candles along the median long term regression line after bitcoin surged past it. Bitcoin has tapped the upper band after each one. This month q fourth Doji candle will be formed — albeit it is uncertain. A run to the top band will put Bitcoin at $50,000”.
The latest reports regarding Bitcoin even suggest that President Donald Trump will buy BTC in the future.
Binance CEO, Changpeng Zhao just said that he thinks Trump will change his mind about Bitcoin and he’ll become an investor in the future.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.