Despite the somewhat unpredictable back and front swing Bitcoin is experiencing between $7,500 and $8,100 in recent time, a number of analysts have predicted the upward rally for the crypto asset while some stay less affirmative by saying a break beyond a level upward or downwards will determine the next wave.
Attesting to the first set of people, history and analytical forecast claim the way up is next for Bitcoin, either in short or long term.
In line with a long term prediction rendered by an analyst on TradingView, Alanmasters, Bitcoin will in the long run hit $82,352 by 2020.
The TradingView analyst said there have been predictions that Bitcoin, against US Dollar, will move from a value of $100 to $1,120 and probably hit $1,000,000 or beyond, nevertheless, he will remain conservative in his forecast.
The Eliot Wave of the Wave Principle Theory, according to the analysis showcased by the market expert, reveals that Bitcoin is on a long term bullish rally that will soon make it hit an all-time high.
Alanmasters said using the 12345 Impulse wave structure, the Fibonacci proportions indicate that Bitcoin will hit a top value of $82,352 in the 5th wave (2020).
Similarly, the Moving Average Convergence Divergence (MACD) which shows the correlation between two moving averages of an asset, also accord with the predicted move towards $82,352 by 2020.
The analyst added that the RSI has yet hit its lowest point, but it is still within the bullish zone as indicated in our previous article, thus, it can also support this prediction.
Litecoin (LTC) to $160 Before Month End
An asset’s pathway to the ceiling is sometimes determined by its recent performance in the market. Bitcoin remains the leading asset in the crypto market, but some altcoins are gibbering for a higher price not minding the market trend of the crypto king.
In the last few days when Bitcoin seems somewhat moribund, Litecoin (LTC), the silver to Bitcoin’s Gold, has been quite excellent. It has been rated among the best performing crypto assets in the market.
Litecoin move from being priced around $73 in the last 30 days to be valued $115 as at press time, recording over 57% growth within a space of one month.
Probably due to the fabulous performance of the altcoin in the market, a cryptocurrency analyst who doubles as a trader and investor asserted that Litcoin will make it to $160 price level before the month runs out.
$LTC to $160 before the end of the month.
— Crypto Rand (@crypto_rand) June 7, 2019