Bitcoin is gearing up for a big rally in 2019, according to eToro analyst Simon Peters.
In a new interview with The Independent, Peters says BTC’s recent golden cross is a major signal that Bitcoin has already hit a bottom and the bear market is ending.
“The stars are aligning for a bitcoin bull run. The short-term moving average for the price of bitcoin has finally moved above the longer-term average, which is often referred to as a golden cross, so investors are starting to believe that we might just be approaching a new phase for the price of Bitcoin.
According to Peters, the $6,000 mark is the next crucial line for Bitcoin to cross. If it breaks the barrier, he believes Bitcoin will surpass $14,000 this year.
Right now, the overall crypto market is mixed, with Bitcoin up 0.84% at $5,437, according to Coin360. Ethereum is up 0.93% at $164.04, and XRP is up 1.39% at $0.3032.
In the short term, CoinDesk’s Omkar Godbole says Bitcoin is facing further losses and risks dropping below $5,000 in the coming days.
Technical analysts across the board are watching for Bitcoin’s next move, with mixed signals on Ethereum, XRP and Litecoin.
Coinspeaker – ETH/USD is expected to bounce at $159
Crypto Briefing – XRP has a bearish short-term trading bias