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A crypto trader who goes by the name of “Galaxy” told his 48,000 followers on Twitter that he believes Bitcoin will never dip to $3,000 again.
Galaxy’s logic is centered on Bitcoin’s 10-year history of hitting an all-time high, dropping 85% and then consolidating before reaching new highs. According to Galaxy, Bitcoin’s real recovery should start after April.
Not all traders are on board with the analysis.
Fellow space-themed analyst Moon Overlord told his Twitter crew of 43,000 that we’ll soon find out if Bitcoin will mirror its pattern from last November, when the price of BTC was relatively stable for a couple of months before plunging from above $6K to below $4K.
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Right now the crypto market is mixed, with Bitcoin up 0.05% at $3,880. Ethereum is up 1.18% at $133, and XRP is down 0.67% at $0.3110.
Technical analysts at large are noting some signs of a potential Bitcoin breakout, Ethereum’s support at $130, and XRP’s push to pass $0.3300.
Bitcoin
NewsBTC – Important reversal signs emerge
Blockonomi – BTC forming crucial breakout pattern, likely to climb higher
FXStreet – Bitcoin stuck between rock and a hard place
Ethereum
Coinnounce – Support around $130 still proving strong for ETH
NewsBTC – ETH could make sustained move higher
ETHNews – Ether presents last chance to buyers
XRP
Blockonomi – Price must settle above $0.3300 to move into positive zone
FX Empire – Barring broad crypto rally, $0.33 levels should be untouched
NewsBTC – XRP could trade lower as recovery falls flat
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