Bitcoin (BTC) is obviously commanding the price moving rate of all cryptocurrencies. After BTC lost its ground at the $8000 level about 3 days ago, it dropped below expectation, but swiftly regained its stability. Crypto experts now believe that its weekly bull run is close by and $10,000 is the next resistance to break.
About two days ago, BTC experienced a drastic plummet in price, affecting a higher percentage of digital currencies. During this period, cryptocurrency analysts kept reassuring that Bitcoin will regain its balance without much delay.
After a 48-hour price drop, Bitcoin (BTC) retraced its step back to $8000 mark. The digital currency has been stable ever since with no distinct loss or gain.
The quick recovery experienced by Bitcoin (BTC) looks somehow convincing that the crypto market is on the verge to go bullish.
Weekly Bullish On Course for Bitcoin (BTC)
A famous crypto expert, The Crypto Dog, shared that Bitcoin now nears weekly bullish with close record breaking volume.
Crypto Dog’s clarification shows that digital currencies have not seen a massive sell-off for up to 4 months in a row, unlike 2018 when cryptocurrency assets sale was in a large proportion.
Weekly resistance: ~8215
Weekly support: ~7300 pic.twitter.com/NpMIPxkcaY
— The Crypto Dog📈 (@TheCryptoDog) May 20, 2019
$10,000 Rally is the Next Huddle
The price growth strength of Bitcoin (BTC) has become a motivation for cryptocurrency enthusiasts and analysts, nursing the belief of seeing Bitcoin breaking $10,000 resistance in a short interval.
Since BTC recovered, it has used $8000 as edge of support, not going far above or far below. Its stability probably initiated a recent tweet from Crypto Rand, who believes that Bitcoin would maintain its present price balance until next month, which would precede its bullish rally to $10,000 mark.
— Crypto Rand (@crypto_rand) May 19, 2019
Thomas Lee Says Crypto Winter Is Over
Thomas Lee, co-founder of Fundstrat Global recently made it known that crypto winter has come to an end in one of his recent tweets.
In the tweet, Lee itemised thirteen different signs to support his sentiment, claiming that the just concluded Consensus 2019 held in New York is the latest notable indication of the end of cryptocurrency winter and beginning of recovery for crypto industry.
After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact.
As we said a few weeks ago, Consensus 2019 @coindesk was to prove whether crypto winter is over…
— Thomas Lee (@fundstrat) May 19, 2019
Thomas Lee has been a usual crypto analyst. His most recent and notable prediction was for bullish Bitcoin (BTC). He predicted that BTC will hit its hallmark price by the end of 2020.
At the time of filing this report, Bitcoin (BTC) is trading at $7,796.66, about $204 from $8000. Every crypto enthusiast is expecting price Bull Run, not just for investment return, but also to prove the relability of cryptocurrency to the pessimists, and critics both inside and outside the crypto sphere.