The crypto market and the community are yet to be relieved from the shockwave Bitcoin sent into the ecosystem after a splendid trend from January to mid-February.
Experts and analysts are trying to cushion the effect with optimistic predictions even though Bitcoin is yet to show a clear bullish signal.
Earlier, the CEO of colossal exchange Binance, Changpeng Zhoa, in his statement hopes that in case of fresh financial crises, Bitcoin would perform better than it did previously.
Similarly, a crypto rating firm, Weiss Rating, which claims not to be biased, has said based on its research, Bitcoin would ride the bull this year, but this would be happening after the cryptocurrency witnesses an important low.
Weiss Rating said based on its timing model, Bitcoin would likely hit a major low in mid-March. The crypto rating firm furthered that the same model also reveals that a massive bullish run awaits Bitcoin after the important low in March.
However, Weiss said the only question with no answer yet, is how high Bitcoin would rise after the mid-March low.
— Weiss Crypto Ratings (@WeissCrypto) March 2, 2020
Crypto Trader Says $6,000 Support Very Realistic for Bitcoin
Crypto trader Joel Kruger, LMAX Group currency strategist, has explained that a fall to $6,000 support level is very realistic for Bitcoin in the next few weeks or months.
Joel Kruger made the proclamation during an interview session with BlockTV media outlet.
Kruger maintained that Bitcoin may need to fall to this level before the market gets strong support.
“There is a lot of support towards the $6,000 area and it is very possible that we could see a pullback down to that level before the market will be very well supported,” Kruger stated.
Earlier in December 2018, Analyst Kruger predicted that Bitcoin would end the year 2019 with a price between $5,000 and $8,000.
While this actually came to realization, the analyst’s statement seems to have created more fear in the crypto community.