Bitcoin

Bitcoin Price Hit $50K, Now Eyeing $57k BTC Price to Reach This Level By Year-End

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The Bitcoin price has recovered 5% this morning and is knocking on the door of $50,000. And this time, the conditions look right for BTC/USD to clear it. Now, Bitcoin is down 22.72% from its all-time high of $64,863 reached on April 14.

However, $51,000 remains the level to beat in order to cement a continuation of the 2021 Bitcoin bull run.

Bitcoin Price to hit $100K by Christmas!

Popular Analyst Plan B in a recent tweet made a medium-term bullish thesis for Bitcoin. He says the stock-to-flow model predicts for BTC to hit $100K by Christmas.

In a reply to the tweet, trader, investor Jason Williams said, ” Lol I need #Bitcoin to hit $300k by December 31st, 2021 or my Twinkie’s are going to expire!”

Adding to the thesis is another analyst called Crypto Capo. He says, even if Bitcoin slides down to $38K-48K level, it will have a mega bullish rally right after.

However, As for the technical indicators, On the 4 hour chart, the RSI is flashing neutral with a value of 57.36. Whereas 13 out of 15 moving averages flash a buy signal.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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