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Popular Analysts Believe Bitcoin Price Will Be $50k in 8 Weeks!!!!

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    Bitcoin Price has surged to yet another all-time high of nearly $28,600

Bitcoin Price hits new record! The top cryptocurrency has gained over $5000 in value. The leading cryptocurrency set a new all-time high above $34,000 on top exchanges.

The start of 2020 seems to be great for Bitcoin ! BTC price has been seeing a lot of action as the price rebounded strongly, touching near its previous all-time high (ATH) at $34,000.

Bitcoin Price Analysis

Bitcoin is pulling back from its record highs. The cryptocurrency briefly dipped below $30,000 Monday, just two days after breaching that level for the first time.

Bitcoin slumped as low as $29,316 at around 5:40 a.m. ET Monday, down 12% in the last 24 hours. It soon lifted back above the $30,000 level but was still down over 10%.

Also Read : What Bitcoin Price Will Look Like in 2021?

Since the opening of today’s candle, Bitcoin went on a rollercoaster, dropping around $5,500.The immediate support is at $28,000 and if the top cryptocurrency fails to hold that, BTC might see its price retrace to $24,000.

BTC price poised to hit $50k 

Popular crypto strategist and analyst with Twitter handle @IvanOnTech predicts that bitcoin price will hit  $50k in 8 weeks. The analyst also shared a graph saying that Bitcoin Could Retest Support at $26,400! And Would Be Bullish Confirmation of Breakout.

BTC price analysis
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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.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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