All through this year, Bitcoin has been profitable, but analysts and experts are expecting more while critics have said even though halving is approaching, the year won’t bode well for the leading digital currency and the entire market.
Speaking on the present Bitcoin fractal in the market since the start of the year, Dan, the founder of Crypto Capital Venture, a US-based leading recruiting firm in the Cryptocurrency, Blockchain, and AI space, illustrated that the Bitcoin on the weekly chart that signals more bullish rally is ahead as we get closer to halving.
The founder of the company which claims to be the most sought after blockchain recruiter in the United States described that as Bitcoin continues to trend on the rising wedge, the cryptocurrency targets a price tag of between $18,000 and $120,000 by the year-end.
Dan said for those who are yet to accumulate enough, they are running out of time to accumulate the cryptocurrency due to his expectation for Bitcoin. He further clarified that this won’t be clearer now until Bitcoin surges massively.
“I’m not sure how else I can say it,” Dan said.
According to Dan’s illustration, Bitcoin’s fractal on Bitstamp, is already above the 200 MA. The founder of the recruiting firm made his prediction based on Bitcoin’s fractal in the past. He illustrated that Bitcoin has again tested and now above the 50 MA on the weekly chart as it did towards the end of 2015, hence a gradual bullish rally is expected.
Bitcoin on the weekly chart leading up to BTC halving couldn’t get any more bullish
It couldn’t be any clearer that time is running out to accumulate Bitcoin
I’m not sure how else I can say it pic.twitter.com/ipI4NpPpXW
— Crypto Capital Venture ⚡ (@cryptorecruitr) January 31, 2020
Bitcoin: Watch Out for $20,000 Price – Popular Crypto Youtubers
During a market discussion, two crypto Youtubers described the present Bitcoin trend as a bullish run that would lead BTC to $100K.
However, Carl Runefelt and Nicholas Merten told Cointelegraph that until Bitcoin hits $20,000, the cryptocurrency won’t go parabolic.
“Until we get to $20,000, we’re not going to see the parabolic run that we’ve seen in previous cycles, like when we went from $1,000 to $20,000 in 2017,” Merten continued.
“That’s really what I define as a key bull market for cryptocurrencies, but we’re trading higher… we’re going for higher highs and higher lows, those are all positive signs.”