May closed with a dizzying increase and excitement of the community. So will the cow side keep the upper hand in June? Bitcoin is set to i...
May closed with a dizzying increase and excitement of the community. So will the cow side keep the upper hand in June?
Bitcoin is set to increase
Bitcoin has just closed the monthly candle with an impressive increase of 63%. This is crazy, especially when only a few months ago, the mighty cows were not seen and the market was immersed in a bear-induced crisis. Now the bull faction dominates the market with an extraordinary power. This led analyst Roger Quantrillo to give a surprisingly optimistic prediction.
This trader recently proposed that due to Bitcoin price closing monthly candles above $ 8,300, "the BTC could soon transfer directly to $ 14,000 or $ 15,000 or more in the next one or two months". This will represent an additional 60% move if it happens. Quantrillo explains why this person thinks this is the case with the Bitcoin cycle with a tweet (below).
The last time BTC showed a 60% increase on monthly candles in the bear market recovery and closing on the red line, BTC has soared hundreds of percent in the following month. Therefore, if history influences future price trends, the next one or two months can be absolutely spectacular for the digital asset market.
Ready to run
In a recent analysis of TradingView, Filb Filb commented that in early 2018, the short amount of 7,300 BTC opened on Bitfinex at $ 11,600 to $ 13,800. Assuming that some of these positions are still not closed, Filb explained that when the electronic money market continues to push higher, the number of short will be more and more under pressure, so buying BTC in place and pushing prices up highs.
Moreover, the analyst expects FOMO and the retracement level of 0.618 to act as a magnet, helping Bitcoin to increase to a range of $ 12,000. With this, he concluded that Bitcoin is capable of breaking the $ 10,000 mark.
He is not the first to believe Bitcoin will increase in price. Naeem Aslam of Thinks Markets told customers earlier this week that Bitcoin may soon surpass $ 10,000 and the fundamentals. In particular, the participation of organizations will lead leading electronic money into the marathon.
According to Ethereumworldnews
Composed by Mr. Lucky
