According to a popular visual communicator and technical analyst, Bitcoin’s price could surge to $5,000 in the next 10 days.
Bitcoin Price at $5,000 Not Surprising
Last week saw positive developments in terms of Bitcoin price movement, as the cryptocurrency breached the $3,700 mark and saw a notable increase in its network’s hashrate, currently sitting at a 3-month high.
However, after a quiet weekend, prices have pulled back slightly, as Bitcoin is looking steady at $3,655 at the time of this writing.
As of lately, Bitcoin has gone through notable volatility during weekends, which usually tend to set the tone for the week ahead. The fact that this weekend has been a lot less volatile could signal that the cryptocurrency has found some sort of stability at its current price range.
Despite the seeming stability, a popular cryptocurrency analyst on Twitter, Mitoshi Kaku (@CryptoSays) said that he wouldn’t be surprised if Bitcoin surges to $5,000 in the next 10 days.
I wouldn’t be surprise at ALL, if the price goes straight to $5K in the next 10 days. The conditions are present TA-wise. Obviously that sort of move would need a strong catalyzer, but anything is possible when it comes to price action. - Wrote Kaku.
He also outlined that higher prices next week “have a high probability.”
Fundstrat Also Positive
Tom Lee, Fundstrat Global Advisor’s Head Analyst recently revealed the company’s outlook on cryptocurrencies in 2019.
According to it, 2019 might not be the year which will spearhead mainstream adoption. However, it also outlines that there are positive incremental developments coming and it’s possible for prices to bottom throughout 2019.
The company also expects prices to be staging a “visible recovery” toward the end of 2019.
What are your thoughts on the current Bitcoin Price? Share your thoughts down below!
Images credit to Twitter/@CryptoSays