Despite the fact that the crypto market seems to be quite bearish these days, the positive predictions regarding the price of BTC keep pouring.
At the moment of writing this article, Bitcoin is trading in the red on CMC, and the crypto fell below the vital level of $10k.
Now, BTC is priced at $9,685.83.
BTC is heading to $100,000
The important crypto analyst and CIO of Adaptive Capital, Murad Mahmudov, said he believes Bitcoin is heading towards $100,000.
Mahmudov who is a former financial analyst at Goldman Sachs, believes that traders should take the long view toward investing in BTC.
He tweeted the following:
“At first glance, this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels. Don’t try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin.”
He also said that “Locally a derisked long would be a 4H RSI reset & a breakout of the black diagonal, which pretty much aligns with the wedge breakout.”
According to him, “200MA/EMA/RSIbands+Weekly support all point to 10.8 but you may get a wick at most given the orderbook support across exchanges.”
A number of confluences pointing to that level on the Daily as well. Goes without saying that this is not financial advice, but If I were a betting man, I would be patiently and slowly adding at every key support. pic.twitter.com/mJJLv6rXDJ
— Murad (@MustStopMurad) August 12, 2019
He also made sure to highlight the fact that Bitcoin’s move below $11k was expected and the very first level of support has been broken at $10k.
Bitcoin sentiment enters fear
It was recently reported that according to the Daily Hodl which cites reports from Alternative.me, BTC’s overall sentiment just entered the fear zone.
Investors are worried that the price of BTC may drop more.
The online magazine notes that “The Fear & Greed index analyzes market volatility, social media and surveys to measure the sentiment among crypto traders.”
This index is run by the developers and creators of Strawpoll.com and Thundercheck.org and it shows when traders are fearful and when a market correction is underway.