At the time of writing, the world’s leading cryptocurrency in terms of market capitalization, bitcoin, is standing at around $5,386 with a staggering %2.10 rise in the past 24 hours. It seems that the bull-run is now settling in for the asset. But where are we heading from here on? As per veteran trader Gareth Soloway:
$BTC attempting to breakout again. Big level its hammering on here. If it can hold above $5,350, breakout should take hold to $6,150.
With this spike, a frenzy has taken a hold of the entire crypto twitter. The crypto winter that continued on for months just ended recently and it is time for the crypto market to go bullish again, as expected by most of the investors in this space.
As the asset is setting in to go past the $6,000 mark, many people are looking for the perfect window to buy the asset so that maximum benefits can be obtained. Some traders in this arena are also suggesting that while a rise past $6k is very probable and we might even see bitcoin cross the $7k mark, there is still a chance that it will come down in the $4,000 once again, following which, we might see another upward tick. An analyst also suggested that we might see it end up in the $4,600-$4,800 window for once. Before jumping wildly onto this bandwagon, you might want to take things a little slow in this volatile space of crypto if you are new into it.
With all this frenzy regarding bitcoin’s price uptick in the hindsight, here is what the crypto twitter is up to.
$BTC breaks resistances
Let’s go to 6K then correction big boy
— ikkibenan (@ikkitothemoon) April 22, 2019
Alts about to grab their ankles it looks like $BTC
— Hoser (@bag_hodler) April 22, 2019
— The Crypto Dog📈 (@TheCryptoDog) April 22, 2019
— TheWolfOfAllStreets (@GerardWalker5) April 22, 2019
Crypto is very uncertain space. One moment the market is dull and the very next moment it is spiking up with the major cryptos showing bullish trends. For bitcoin, the road is seemingly set for another bull-run. Investors, traders, and the general community have their eyes set on the digital currency’s price movement now. It will be interesting to how things turn out for it in terms of price in the next couple days.