Bitcoin Analyst Targets Bull Run to $5K As Crypto Traders Bet on BTC, Ethereum, XRP, Tron and BitTorrent
Bitcoin continues to flirt with $4K this weekend. At time of publishing, the price of BTC is up 0.51% at $3,936, according to crypto price tracker Coin360. Every other coin in the top 10 by market cap is up with the exception of EOS.
Crypto analyst Filb Filb tells his 11,000 followers on Twitter that a Bitcoin bull run to $5K could be in the works.
The trader cites Bitcoin’s ability to post higher lows in recent months as well as the coin’s MACD and Fibonacci levels as evidence.
But, he also warns on Bitcoinist that the bears could regain control.
“Only time will tell if this prediction will play out and it is a prediction against the grain of a 14-month bear market, so it should be treated with caution. A low beyond $3400 and a lower low/break in market structure would certainly imply that the bears are still in command after a short period of hibernation.”
Last year, Filb Filb charted Bitcoin’s long-term path to $333,000 by 2023 after reaching a bottom of $2,500 – $3,100 in 2019.
— fil₿fil₿ (@filbfilb) December 27, 2018
Technical analysts across the board are not necessarily on the same page with Filb Filb’s short-term prediction.
Cointelegraph says BTC’s positive price action is great, but the speed of the rise is worrying, and Bitcoin Magazine highlights Bitcoin’s repeated failed attempts to sustain a run past $4K as a sign that a reversal could be in the cards.
Meanwhile, new data reveals which coins are the most actively traded in India. Crypto exchanges Wazirx, Coindcx, Instashift and Bitbns shared data with Bitcoin.com, revealing that, on average, Bitcoin, Ethereum, XRP, Tron and BitTorrent Token are currently the most popular coins in the country.