Bitcoin (BTC) may surge to $5k before March, says popular trader

10 Feb, 2019
by David Robb
Price Analysis
Bitcoin (BTC) may surge to $5k before March, says popular trader

A popular crypto trader and technical analyst has made a bullish prediction about Bitcoin (BTC). Mitoshi Kaku claims that a surge to $5000 within the next 10 days would not be surprising.

After months of gradual decline, the last few days have seen a slight change in Bitcoin (BTC) and the crypto market's fortunes. Big 24h gains have pushed the BTC price back to roughly where it was a month ago, but Kaku believes that this $3,655 level could be the springboard for a major BTC rally.

Kaku's claim comes from a purely technical analysis of the BTC price movements that we've seen. As many resistances were touched on the way down, this could set up a reversal of the pattern, with a return to $5000 possible once momentum is built. Some kind of positive fundamental would likely be required as a catalyst for this surge.

Observers responded positively to this predicition, although not everyone was convinced by Kaku's claims. Most believed that BTC gains were likely to continue, but that the $5000 level was maybe a little too ambitious.

Read more: Will Bitcoin recover in 2019?; 9 Bitcoin price predictions for 2020 by crypto experts

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