After ending the $6,000 barrier, Bitcoin went up reaching the $8,200 spot. Since then, the cryptocurrency has failed to break resistance at $8,300 with a number of retreats towards $7K level.
The crossover Bitcoin saw since at beginning of April made some of analysts aver that the market has bottomed enough, and the path to the ceiling is clear. So far, the crypto coin has edged into the $8k spot a couple of times to retest the bull power but a retracement takes over each time.
Bitcoin to Hit New All Time High before November, $65k in March/May 2020
A renowned cryptocurrency analysts who is known for loads of XRP predictions, took to Twitter today with a forecast which claims that Bitcoin could likely hit a new all-time high this year.
Crypto Bitlord, in a tweet stated that based on his/her calculation, a new greatest high would be broken by the crypto king before November 2019.
“We can then charge for the $65k target around March/May 2020”, Bitlord averred.
Faster Bull Run May Take Bitcoin to $50k before December
The crypto analyst added more value to the prediction. He said we might however get a stronger momentous rally that will bring us closer to the all-time high value, making Bitcoin hit $50k before December.
“Mind you, this could happen much quicker. We might be at $50k before December -This really depends on a few key factors”, Bitlord added.
Crypto Bitlord Foresaw Bitcoin’s Trip To 8k In April
In April 2019 when the market was just warming of for a potential bull run, Crypto Bitlord, even though many did not believe, foresaw the bull run, stating that Bitcoin will soon hit $8k resistance.
At that time (April 23), the market just witnessed a slight push up that lifted Bitcoin from $5,200 to $5,500.
Crypto Bitlord, then predicted that Bitcoin would be going straight to $8,000. Although, his latest forecast looks somewhat unrealistic, but the yield from his previous projection seems to be giving people atoms of believe.
In a more advanced estimate, crypto veteran John McAfee averred that Bitcoin will undoubtedly approach 1 million by the end of 2020.