Bitcoin Bullish Prediction: Key Indicator Signals Bull Run To All-Time High For BTC
Another day, another Bitcoin bullish prediction regarding the price of the coin.
The most popular crypto analyst on YouTube said that BTC is definitely about to go back to its all-time high of $20k.
During a new episode of DataDash, Nicholas Merten said that the 21-week moving average is reportedly matching up with the price of the most important coin in the market.
A previous bullish pattern
This is a pattern that happened more times during BTC’s rally from 2016 until the beginning of 2018.
“The 21-week is doing exactly what we hoped it would do, which is basically getting close to or making contact with the price. Price has pushed sideways. It has made solid support after a very quick and fast and strong rally,” he said.
He continued and explained that “We’ve needed this summer of sideways price action. I know it hasn’t been exciting, guys. We’re exiting this summer. It’s been almost three months and the price hasn’t moved that much.”
Merten also said that “this was very important because historically speaking, the 21-week is a key support level for cryptocurrencies and their rallies…”
He continued and explained now history is basically repeating itself, and the way the price moves these days is a good sign.
At the moment of writing this article, Bitcoin is trading in the green on CMC and the most important coin is priced at $10,718.57.
More bullish predictions are made
Despite the high market volatility these days, there have been a lot of bullish predictions regarding the price of BTC.
The most recent prediction comes from BitMEX CEO Arthur Hayes who was on the top of Peru’s city in the sky, Machu Picchu, according to the latest reports coming from the online publication The Daily Hodl.
Did y’all miss me? I’m back from deepest darkest Peru, ready to cash checks. For those of you in Singapore next week for Invest Asia keep Wednesday night free. We will be two-steppin’ straight to $20k. pic.twitter.com/R0UYHinuHw
— Arthur Hayes (@CryptoHayes) September 3, 2019
He said that BTC is definitely on its way back to $20k.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.