Yesterday, Bitcoin price has surged at least $100 in the intraday trading session. Bitcoin is retesting again the $4,000 mark and struggling with this level. On the other side, altcoins are spiking, which caused the Bitcoin dominance to hit a new lowest level since August 2018. A thing that most likely confirms that the Alt season is here.
A crypto trader called DonAlt, thinks that the bitcoin price is going to explode with a $1,000 movement very soon as he posted in a recent tweet:
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
What happens if that resistance that has been tested so many times finally fails?
Well, there is a whole lot of nothing above us.
This chart looks like we’ll get a $1000 candle in either direction very soon.
And up just seems more likely to me. pic.twitter.com/2P8vmyZ6YC
— DonAlt (@CryptoDonAlt) March 29, 2019
Also, another crypto trader called “The Crypto Dog” is totally bullish, however, he tweeted a bearish scenario, saying that the major resistance is still intact and the volume is still low so the bullish trend is not confirmed.
Also, he adds that Altcoins are on overbought levels, the highest since June 2017. and while bitcoin price has been mostly stable, many small-cap coins had pumps by x 100.
Additionally, $ALTS are the most “overbought” they’ve been since JUNE 2017 and are at “resistance.”
Please take this “analysis” with a grain of salt. Charting Others.D like this could very well mean nothing, I’m looking at it and developing theories, nothing concrete. pic.twitter.com/M1Ddu0Z3Rc
— The Crypto Dog📈 (@TheCryptoDog) March 30, 2019
Adding more “The Crypto Dog” commented:
I still think we are going up and there’s nothing the bears can do about it. It’s not going to be a straight line, but yes I am currently convinced that alts broke out of accumulation and will be bullish for more than just a single month.
Another trader named “CryproBirb” thinks that $4,400 resistance probably will hold and a bearish scenario is more probable according to him.
>broken 4.4k->~5k (5.8k ultimate test)
>rejected 4.4k (inability to make HH)->scenario II is more probable
H1 2019 would be more about 1.3-2k V-type reversal&depression stage of the market cycle
H2 2019 for market’s consolidation&anticipation (halving May 2020) pic.twitter.com/9cUEVsUSsH
— Crypto₿irb (@crypto_birb) February 28, 2019
What are your thoughts about these bitcoin price predictions? Feel free to post your opinion in the comments below.