Analyst: BTC could surge up to $17,000 once this crucial time is over
Kenny Stevens – Cryptocurrency Enthusiast
The COVID-19 pandemic has influenced finances worldwide, including that of cryptocurrencies, resulting in a recession. Although Bitcoin has increased in value by over 60% since the beginning of 2020, it has also undergone some exceptional plummeting prices during the wake of the most testing COVID-19 outbreak in the middle of March.
1. For the past few weeks, Bitcoin has been caught trading sideways.
2. That culminated in a relatively wide range of exchanges from 11,200 to 12,200 dollars.
3. Crypto investors that buy Bitcoin kept a keen eye on a dip under the bottom of this range as a strong upswing follows every visit
4. Analysts now remember that BTC will position itself to see even more short-term gains
5. These gains could lead to a price increase of up to US$ 17,000 – according to one analyst.
For Bitcoin and the aggregated crypto market, it has been a week of mixed exchange. Ethereum was able to split up its trading line after a long consolidation, while Bitcoin stayed below its primary short-term resistance. Hardly much to provide an insight into the development of the whole market. There are a handful of Bitcoin price predictions which exhibit BTC’s promising future made by some of the renowned Bitcoin advocates:
Altcoins also have a shortage of trends, some of them rocketing up as more buy altcoins, while others drift down. Many believe it can only be a matter of time before it breaks out of its current trend line and leads the entire industry.