Bitcoin Is Rallying Again Towards $9,000: BTC To Hit $11,500 By June 2019 – When Is The Best Time To Invest?
Bitcoin-related predictions keep pouring in the crypto market.
Until yesterday, BTC has been hovering around $8,000, but it’s not rallying towards $9,000.
Currently, the most important digital asset in the market is trading in the green and it’s priced at $8,718.78 on CoinMarketCap.
Some crypto experts have been predicting that BTC will soon be reaching $10,000 and after this psychological step is surpassed, the FOMO will reportedly be unleashed into the mainstream and then, a lot of money is set to pour in the crypto market.
BTC to hit $11,500
UToday brings up the latest price predictions from TradingView. They write that the medium trend for BTC remains upwards and the forecast for the next month’s price is around $10,500 and $11,500.
“The mid-term analysis is positive: it’s based on technical indicators and fundamental analysis. So, what is this assumption based on? The 20-day exponential moving average is increasing, and the BTC price is above the EMA (20),” Utoday writes.
They explain that this is an ascending trend channel that’s formed on BTC’s daily chart and it’s a strong continuation chart pattern.
“The next implied price target is located at $11,500. The two intermediate price targets are located at significant resistance levels at $8,500 and $9,500,” the online publication continues and reports. The first level has been surpassed.
They conclude their article by saying that you should buy BTC at around $7,400 and you will be getting your profit at around $11,500.
Other bullish predictions
There have been some pretty bullish predictions these days regarding the price of BTC.
The latest one has been detailed by the Daily Hodl and revealed that crypto analyst and the author of Cryptocurrencies Simply Explained, Julian Hosp just said that a metric which is known as the stock-to-flow ratio indicates Bitcoin is on a trajectory to $1 million over the next ten years.
Stay tuned and keep your eyes on the numbers to see where is BTC heading today.
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.