There are all kinds of new predictions about the price of Bitcoin these days, and most of them are bullish. Check out the latest one below.
New optimistic Bitcoin prediction is out
It’s been revealed that there is a closely followed crypto analyst Nicholas Merten says that market conditions have reached a point that an unexpected relief bounce that liquidates Bitcoin bears is becoming more likely.
In a new market update, the host of DataDash said that just like in July of 2021, BTC could pull off a bounce that catches most bears off guard.
He says that Bitcoin’s major moving averages are pointing towards a relief rally to about the $30,000 range.
“We rallied all the way from $29,000 to $53,000 [in July 2021]. To put that into perspective, in a matter of just a few weeks, or simply put, less than months, we saw an 80% move in Bitcoin’s price. Am I calling for that exactly? No, what I am calling for is for us to come up and to retest this previous consolidative range [$30,000].”
He continued and said this as well:
“There is no significant points of resistance here, and the moving averages are coming straight down into this point where it gives us a perfect setup for Bitcoin to come up and retest this range here, and see if it can interact with these moving averages…”
Vital crypto catalyst for the rally
According to the latest reports, there is an important catalyst that boosts the crypto rally these days. Check out the latest reports coming from the analytics firm Santiment.
Santiment made sure to explain the fact that despite Bitcoin (BTC), Ethereum (ETH), and altcoins such as ApeCoin (APE), Fantom (FTM), Ethereum Classic (ETC), and THORChain (RUNE) recording double-digit growth percentage-wise, social media mentions are declining.
Stay tuned for more news, and make sure to check out the crypto market as well.
