Trying to predict the future of Bitcoin (BTC) is no easy feat, yet some analysts are already making bold predictions. Recently trader Skew revealed his expectations for the crypto market’s trajectory and made a compelling case as to why they will become a reality.
Bitcoin Will Either Drop To $19k Or Rise To $29k, According To The Skew Analyst
With the growing number of Bitcoin non-zero balance addresses, analysts are left wondering what’s to come of BTC price in the future. Trader Skew recently weighed in on this topic and suggested that we may be due for a big move very soon as he believes Bitcoin is currently situated within an uncertain “transition zone.” He predicts it could skyrocket up to $28,000 or dip down to $19,000– only time will tell!
To back up his point, the analyst posted a chart highlighting the price targets for BTC.
Analyst Skew declared that the crypto market’s fate could be sealed within this week. Indeed, Bitcoin has been on a steady incline since February 14th when the U.S. Consumer Price Index was released – launching it back up above $22,000! If current trends continue to hold, we can expect great things for our favorite cryptocurrency in days to come.
Investors, On the Other Hand, Are Hoping for a Serious Spike in Bitcoin
Investors, however, are looking for a more substantial resurgence. They want to witness BTC re-enact its momentous surge of 40% in January. After two weeks of consolidation and unpredictability, industry watchers believe it is time for Bitcoin to break out or repeat itself, depending on its direction.
In response to a question about whether Bitcoin would go down or up, Skew chimed in with his opinion that the US Dollar was likely to get stronger by Friday. He pointed out that any signs of weakness from major assets today could signal a decline in risky investments.
In the wake of Bitcoin’s tremendous growth this year, multiple analysts have echoed Skew’s predictions. Analysts are particularly eager to see what lies beneath the $20,000 mark— a region that could prove to be highly lucrative for the crypto market leader.
You may be interested in: Cardano’s Charles Hoskinson Accuses SEC of Lying
