At the time when everyone was thinking a disapproval or delay on the VanEck ETF would cause a massive Bitcoin dip, the digital asset is at the moment close to $8000 a position it started romancing since last week.
Bitcoin despite the news did not show any noticeable sign it’s been affected by the disapproval. At the time of writing, Bitcoin is trading around $7940, with a negligible price increase in the last 24 hours. Although, the market dominance of Bitcoin stays around 56%, but the market volume of Bitcoin is around $22 billion.
This has resulted in analyst giving their opinions on the next step for bitcoin despite the current market situation.
As bitcoin price swings back and forth, Goldbug1, a top cryptocurrency expert on Trading View and a team member at Seeking Cryptos, has said the Bitcoin bull run is not over yet.
In his bullish graph, he noted the current pullback or wave (4) of the bullish swing is proportional to wave (2). While saying this is possibly the lower end of the present consolidation, he said there is possibility of going back at the same time, the higher and broader bullish sign are gathering.
Goldbug1 is confident anything below 7k is a buying opportunity, but he’s at the same time confident that momentum is picking up and not the otherwise.
Once 9k is reached, BTC will soar to 24K
As noticed on his graph, there are three wave fractal cycle, which he said are structurally and proportionally correct, and therefore forming a mid term wave (3).
He said Bitcoin’s road to 9K is clear, but Goldbug1 did not state when the price would be achieved.
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