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Bitcoin 2020: The Bottom is In and Prices are About to Surge, Several Analysts Claim, Crypto Coins News

admin January 6, 2020 Business Leave a comment 68 Views


  • Bitcoin corrected by over 090% from the****************************************************************************** (high of $, 2019.
  • With the retracement in the last six months, some analysts believe that the bottom is in.
  • The number one crypto is flashing accumulation signals convincing popular traders that the cryptocurrency has turned bullish in 10000.

Bitcoin may have started 6500 strong but ever since it posted a high of $ 45, 900 in June, the top cryptocurrency has been correcting. It dropped to as low as $ 6, 475 in December. At that point, bearish calls for a revisit to $ 5, (levels were strong.)

One analyst expecting bitcoin to drop to $ 5, 00. | Source:Twitter

Those who have been waiting to buy below $ 6, 000 have been left out. The digital gold is now trading above $ 7, and analysts are expecting bitcoin to leave this price area soon. Many see a base being formed, which can propel the number one cryptocurrency to greater heights early this year.

Analysts Claim Bitcoin Has Bottomed Out

After a weak second half of (********************************************************************************************, it appears that the worst is behind for the most dominant cryptocurrency. A number of widely-followed analysts on Twitter say that

bitcoin is carving a bottom.

For instance, Faisal Sohail believes that the cryptocurrency has already tapped the bottom when it dropped to $ 6, 475 in December. He believes that the digital asset will trade between $ 7, and $ 12, before (the halving.

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Bitcoin to start climbing before the May 2020 halving. | Source:
Twitter User Bitcoin Macro supports Faisal’s view. In an emphatic tweet, Bitcoin Macro exclaims that the bottom is already in. He also tells his followers not to get shaken out.
The Bitcoin Macro wants you to look at the bigger picture. | Source:Twitter****** Majin, Crypto Twitter’s biggest bull , has also turned bullish after months of uncertainty. The liquidity game theorist believes bitcoin will take off and leave $ 7, (behind.)
****************
************** Majin expects bitcoin to rise up soon. | Source:
Twitter Accumulation Pattern to Send Bitcoin Above $ (**********************************************************************************************************************, ***********************************************************************************************

BTC has been range trading between $ 6, 700 and $ 7, since November 20, . That’s a $ (range over) days. To many analysts, this is a sign that a new base is being built to prepare bitcoin for the next leg up, hence, the call for a bottom.

Charles Edwards, head of digital investment firm Capriole, sees a potential accumulation pattern forming. More importantly, he believes that the bottom is already in. According to Edwards, his bias would be confirmed once bitcoin trades above $ 8,

**************************************
****************************************** Charles Edwards sees a Wyckoff accumulation pattern developing in bitcoin. | Source: Twitter Edwards is not alone in seeing a pattern indicating that whales and other smart money investors are accumulating the largest cryptocurrency. Trader CryptoWolf also sees an accumulation patterndeveloping. His bias will be confirmed once the price goes above $ 8, 193. A move above that level would also trigger the breakout from a large falling wedge.

CryptoWolf’s initial target is $ 9, and then $ 13, (**************************************************************************************************. **************************************** (************************************************************************************** Bitcoin needs to take out $ 8, 193 to gain bullish momentum. | Source: Twitter

Traders Starting to Have a Rosy Outlook

With these signals, other traders are expressing their optimism on the prospects of the top cryptocurrency. The popular trader The Crypto Dog tweeted that he’s bullish on bitcoin.

(****************************************************************************************************** It is not everyday that the Crypto Dog posts bullish tweets on bitcoin | Source:

Twitter

The widely-followed Crypto Rand shares The Crypto Dog’s upbeat outlook on the dominant cryptocurrency.

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The Crypto Rand is also bullish on bitcoin | Source: (Twitter

Is it a coincidence that the top analysts are tweeting bullish statements on bitcoin as the top cryptocurrency prints an accumulation pattern? Probably not. It’s very likely that these analysts are also seeing the bottom or base-building signals on the number one coin. If they’re right,then strap in. Bitcoin’s 222473 price action might start off with fireworks .

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Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.

************************************************** (this article was edited by (Sam Bourgi) ************************************************************. **********************************************************

Last modified: January 6, 10000 5: PM UTC

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