A crypto analyst says that Bitcoin price may reach $13000 in long term trend though it has been trading sideways for a few months.
Bitcoin has been trading below the key level of $7500 and was trying to break this level. Earlier today, the price of the coin surged above this level and touched the figure of $7790. As the value of the token went above this level, it means that it still keeps growing.
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It seems that Bitcoin has made its way into the buying trends and the world’s leading cryptocurrency aims to get above the $8k level.
Different analysts are making different predictions about the Bitcoin price. Some analysts say that Bitcoin may go down because of its bearish effects while others say that the long term trend of Bitcoin price is still active and the price of the coin may surge.
Bitcoin may surge to $13k level
A crypto analyst named @CryptoMichNL has recently made a strong bullish prediction about bitcoin price. He says that Bitcoin’s long term trend still remains bullish though the trendline inside the downtrend is still holding up.
Further on, he said that though bitcoin has been trading sideways, it will still reach $13000 level in long term bullish trend. On Twitter in the chart, he has highlighted the bitcoin aim with a rising line.
✅ Trendline inside downtrend still holding up.
✅ Long term trend is still active.
✅ 0.618-0.65 Fibonacci Ratio holding.
▫️ Could be a few months of range-bound sideways action.
But the bigger picture is still looking fine. pic.twitter.com/46BFZnq6KN
— Crypto Michaël (@CryptoMichNL) November 29, 2019
Another analyst shares bearish prediction
Bitcoin is not only getting bullish predictions but also bearish predictions as well. A crypto analyst and trader, @nebraskangooner has made a bearish prediction about bitcoin price. He says that Bitcoin may go down from the current level and reach the mark of $6300. He presented a chart supporting his bearish prediction.
The all knowing fractal says the top is likely in for now.
Trend line breakdown retest looks completed.
Will be interesting to see if this continues to play out. pic.twitter.com/Bs1xQHZdoV
— NebraskanGooner📈 (@nebraskangooner) November 29, 2019
Bitcoin bulls and bears rivalry still continues. Either bitcoin bears would push it back toward $6300 level or Bitcoin bulls would push it up to $13000 level.
Price value of the coin
At the time of writing, the price of the coin is standing at $7,735.78 USD with a change of 2.23% in 24 hours.