Despite the 82 percent drop in the valuation of the crypto market in the past year and the inability of bitcoin to recover beyond $4,000 in the past three months, one analyst sees the dominant cryptocurrency surpassing $150,000 by 2023. Josh Rager, a cryptocurrency technical analyst and investor, said that based on the price trend of bitcoin since 2011 and the pattern of bitcoin rebounding from a correction following an all-time high, he sees bitcoin achieving a new peak price in 2,051 days, by 2023. The next Bitcoin cycle should…
Month: April 2019
Bitcoin (BTC) Price Could Make A Sustained Move Higher
Bitcoin price jumped higher recently and traded to a new weekly high above $4,140 against the US Dollar. The price traded as high as $4,142 and it is currently consolidating gains above key supports. There is a new contracting triangle forming with support near $4,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline in the short term, but it remains supported near $4,100 and $4,050. Bitcoin price is trading with a strong uptrend above the $4,040 pivot level against the US Dollar.…