Bloomberg Issued A Warning For Bitcoin And Digital Assets
The crypto market looks good today, with the most important digital assets trading in the green.
For a while now, the volatility has been extreme, and crypto enthusiasts have their eyes on the charts.
Bloomberg issues a warning
According to Bloomberg, a historical analysis of the digital asset’s prior price action is showing that the most important crypto is likely to drop in price shortly.
This will also push the crypto market down as well.
“The largest digital currency gained nearly $2,500 at its peak this week following positive comments regarding blockchain technology from Chinese officials. But it hit a ceiling at $10,000, indicating that tougher times could lie ahead,” the online pubcalition writes.
Josh Rager’s price prediction for BTC
According to daily analyst Josh Rager, BTC now needs to break resistance at about $9,550 to continue its recent uptrend and crack $10k.
“Lower time frame chart shows the price in a few hundred dollar range. Daily support below, while overhead is the weekly and monthly open (resistance) with a break and closes above these areas on higher time frames will likely be a signal to move up in the $10ks.”
Optimistic predictions for BTC
Since the bulls came back to the crypto market during the past week, there are more optimistic predictions targeting the most important digital asset.
The popular crypto analyst PlanB is back with another prediction. He says that BTC is back on track to hit $100k.
The analyst said that BTC’s stock-to-flow ratio shows BTC right on target.
This is not the only great forecast for BTC.
It was recently reported that Clem Chambers, market analyst and CEO of global finance tracker ADFN, revealed that he believes the price of one BTC could surge up to $100 million or even more.
At the moment of writing this article, BTC is trading in the green and the coin is priced at $9,271.77
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.