- Bitcoin has crossed $6,400 level.
- Crypto expert insists the Bear is over only if ….
Bitcoin is becoming a force to reckon with in the economic space especially this time that the digital asset is not yielding to condemnations from self acclaimed economists and some government officials who are calling for stiff regulatory principle on cryptocurrency, thinking an end to it is the beginning of a new future for their country and their personal assets.
The news that Australia has in circulation around $1.6 billion worth of currencies that are laden with typos, calls for the need to embrace digital currencies since they are always perfect, at least than fiat, which is always centralised and printed from thin air.
Be that as it may, Bitcoin has received myriads of condemnations and still the digital asset continues to prove its worth. Today, Bitcoin touched $6,300 after making slow but speedy recovery above $6,000 this week. One may be thinking that is the end, until the BTC climbs above $6,400 few hours after climbing to $6,300.
At the time of writing, Bitcoin is changing hands at $6,415.16 with a 24hrs price upsurge of 5.42%. Bitcoin’s market dominance is around $58%, one of the indications that we are in a bull run.
Is Bitcoin (BTC) officially in a Bull Run?
As the space shows signs of appreciation, cryptocurrency experts from different angles of the world are pouring in their predictions to show the bull run has started.
Confident in his prediction and statement is that of Vinny Lingham, the Founder and CEO of Civic, an identity protection and control tool on the blockchain, who has been reiterating that until Bitcoin (BTC) price is able to stay above $6,200 level, it will be hard for anyone to beat chest and say “the bear is over.”
The crypto evangelist during an interview of CNBC Crypto Trader proclaimed that buying this recent upsurge is dangerous because Bitcoin may return to its formal place –$3,100.
Vinny Lingham Thinks the Bear Market is Officially Over if…
Today again, Vinny Lingham has returned to Twitter to make his assertion widespread. When question on the social platform by CNBC analyst Ran NeuNer on whether he’s convinced Bitcoin (BTC) is in a bull run, what the cryptocurrency expert is saying this time that Bitcoin has crossed $6,400 is not different from his previous points.
Lingham said: “If Bitcoin can hold the $6200 level for the next 24-48 hours, then the bear market is officially over and I’m going to become a raging bull!”
— Ran NeuNer (@cryptomanran) May 10, 2019
What Lingham is asserting at the moment is that if Bitcoin (BTC) stays above $6,200 for 24 to 48 hours, then the bear market is over.
Tom Lee’s Bitcoin Bullish Prediction
Tom Lee, the head of research at Fundstrat Global Advisors, also joined other cryptocurrency analysts to predict Bull Run for Bitcoin market price.
Lee didn’t specifically forecast an actual price for BTC, but assured that the digital asset will hit its price al-time high by the end of 2020.
Recalling the past bear market of 2018, when all the major digital currencies dropped in price significantly. Before this bear market, Tom Lee had predicted that Bitcoin price would surge and beat the $25,000 resistance by the end of 2018, a forecast that came out to be wrong at the end of the day.
However, Lee’s recent Prediction came with analysed signs and track record that makes it a bit noteworthy that BTC is advancing on a probable bull run.
One of the signs showcased by Tom Lee is liquidity on the Bitcoin Blockchain which is associated with increase in the numbers of transaction.
Bitcoin (BTC) Is Heading For $20,000, A Rare Move In A Decade – Peter Brandt
A renowned veteran trader, Peter Bradt, has joined the multitude of analysts who are optimistic about the price of Bitcoin, as the digital currency continues to maintain solid rally along the upside market trend.
Bradt, in his prediction, favoured a parabolic drive toward the ceiling over a downslide that would probably take Bitcoin to the pit ($3,000). The commodity trader who doubles as the author of ‘Diary of a Professional Commodity Trader’ said Bitcoin is about to initiate the 3rd bullish rally in a decade after that of 2013 and 2017.
He added that even though 3 parabolic drives in 10 years is a rare trend in the market, there are chances Bitcoin will make it, considering the weekly moving average of the coin which has been up since 4 weeks ago.
When asked about the point Bitcoin is steering towards, Peter said:
“Well I think $50,000… it has to get to $10,000 before it gets to $20,000,” he said.