These initial days of 2020’s Q1 represent a winning streak for Bitcoin. Up from the horror of an annual 2019 low of $6,000, the coin is experiencing worthwhile surges. At a glance, Bitcoin’s turn of events in 2019 was easily predictable throughout the year.
However, the largest coin’s price action by the end of last year caught the entire market pants down. While data from Skew indicated a 6% probability of Bitcoin attaining its all-time high; a close surge crashed after attaining $14,000. This shattered the likelihood of the coin reaching $20,000.
Nevertheless, the market is anticipating a nice return above the $10, 000 support. The Bitcoin halving could serve a rather significant upward pull in the coming 100 days. Let’s see what to expect.
Meanwhile, the past 14 days have seen Bitcoin record a 20 percent gain. Seemingly approaching the $10,000 price mark gradually during press time.
A twitter crypto analyst @Lightcrypto is expecting Bitcoin to break the $10,000. He shared his positive anticipation on his Twitter profile:
In my mind, the odds of breaking $10,000 in the next two days is over 80%.”
Light noted that Bitcoin is ready for its pre-halving upswing. In fact, he said, “Bitcoin is already past its psychological litmus test.” The crypto trader and analyst pointed out it was quite impossible for traders to have held onto their positions this long.
Only to end up dumping their coins before a surge. His bullish prediction had that Bitcoin would surge to $11,000, shortly after the coin attained $10,000.
“If and when we break the $10,000, we teleport to probably $11,000 in an hour.”
Flib Flib, a recognized cryptocurrency analyst and researcher made a chart estimation of Bitcoin experiencing a vertical surge towards the $9,000. Bottom at $6,000 by December and recover to $9,000 by January this year. He is famous for making an accurate forecast of $3,000 during the 2018 bear market.
Flib Flib wrote in a Decentrader newsletter that he believes Bitcoin is going to surge to $15,800 before the halving event. He backed the forecast by taking note of the previous halving, Bitcoin found a temporary top at $800, the 78.6% Fibonacci Retracement level of the upward correction prior to the even
Flib mentioned that his volume indicators were well positioned and the moving averages were trending pretty well. The approximately $16,000 goal depends on historical trends. In addition to a confluence of several technical analysis indicating further upsides in the short term. Flib Flib also stated that his major indicators include the one month, four-hour and one-day candles. He suggested in the post the price of Bitcoin was meant for higher gains in the next few weeks.