Bitcoin’s (BTC) price has raised above $3,900 and is stepping towards to reach $4,000 level. It seems that the bulls are all set to take control again.
Bitcoin Price Getting Closer to $4000 ! Will the price Exceed $4000?
Bitcoin has knocked out the weekend trading slightly up but has still been unable to move above $4,000. Bitcoin has been able to move consistently for several days. Few analysts assume the price might fail to raise above $4,000, which will likely lead to sustain future losses.
At the time of writing, Bitcoin is trading down by 0.06% at its current price of $3,942. Since the beginning of the week, BTC has been able to hold steady above $3,900.
On march 9, 2019, BTC fell sharply to lows of $3,880 before quickly surging to its current price levels. This price action may signal that the crypto has established the upper-$3,800 as a level of relative support.
Although, Bitcoin has been steadily climbing over the past several days, analysts still expect the cryptocurrency to suffer greater selling pressure in the future.
The Cryptomist, a popular cryptocurrency analyst on Twitter, recently explained that Bitcoin is currently caught in a rising wedge that it is likely to break below in the near-future.
Adding to the list, AngeloBTC, tweeted Bitcoin price might reach $30,000 By 2021. He claims that a $1 trillion market capitalization would still be underrated for BTC and digital assets as a whole to have “any meaningful impact as a store of value/currency. ”
Another crypto analyst, expects Bitcoin to proceed facing increased selling pressure until it is able to firmly establish its current price region as a strong level of support.
Considering all the aspects, over the past couple of months, the crypto markets have generally sustained high levels of volatility during weekends, which may mean that traders and analysts may soon gain greater insight into which direction the markets are heading next.