Bitcoin

Analyst: Bitcoin (BTC) Going to $6,800 – Retrace Bottom Around $4,500

Bitcoin has been rallying up pretty strongly over the past few weeks and at the time of writing, it is standing at around $5,529 showing a 1.04% increase in its price. With the world’s biggest cryptocurrency bitcoin spiking up, everyone is now looking to find the perfect buying spot. Yesterday, the asset showed a slight drop in its price as it got everyone thinking about what might be the next best spot to buy. Is it going to go down even further? If you want a possible buying window, a crypto-analyst that goes by the name of “Curtis” (@CurtisOrion) might just have pointed out a probable buying level.

Right now, the asset is eyeing to cross the $5,560 mark which then might see it shoot past to $5,850 pretty quickly, as per Curtis. Recently, another analyst also pointed out a probable buying window of $4,600-$4,800 moving forward. It was stated on 20th April in a tweet:

Based on this daily fractal we should get another chance to buy $BTC at $4600-$4800 levels before the next run to $6800.

SEE ALSO: $4,600-$4,800 Bitcoin (BTC) Price Range to Buy, Stay Alert Suggests Analyst

It has been less than a decade since bitcoin erupted out on the global scene after the global economic crisis of 2008. Although its initial use-case was largely driven by usage in illegal activities, recent developments and legislative efforts being made in the crypto space are trying to put this asset in direct competition with the banking system of the world by providing a fast, borderless and transparent financial system. But one of the biggest hurdles that have prevailed for bitcoin in its road to become a global standard of making payments is the volatility attached with its price.

A “volatility dilemma” looms over the crypto space. While the issue of volatility needs to be eliminated so that more trust is established regarding the asset in the institutions and the general public, this issue is something that also attracts flocks of investors and traders into this space who just want to make a quick buck. So the sudden rises of bitcoin are also followed by sudden significant drops. It’s just a matter of exquisite timing for your investment. You would like to choose a buying window that suits you best since no market is linear. As Ran Neuner, the well-renowned crypto experts and the founder & CEO OnChain Capital said regarding bitcoin’s recent drop:

The market was never going to go up in a straight line!

Ahsan Khalid

Blockchain Developer. An Electrical Engineer with majors in software development. I present forward my insight regarding the latest happenings of the blockchain world. All views on my articles are my own. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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