'Bitcoin will run up to $5,000 by May'

09 Mar, 2019
by Joeri Cant
Bitcoin
'Bitcoin will run up to $5,000 by May'

A crypto trader and analyst, going by the Twitter handle @filbfilb, produced another chart which claims that Bitcoin will experience a bullish run up to $5,000 by the month of May.

The crypto trader states that 'Bitcoin is a bull' and has done enough to show this.

He further points out that BTC has remained above the 0.5 Fibonacci level since February 18 and if BTC remains above the key 0.5 Fib level it could turn bullish quickly which could result in a run up to $5,000 by May.

Just as the $4,000 mark has proven to be, the $5,000 mark will as well be a major psychological resistance level.

This prediction is somewhat in line with what Anthony Pompliano, founder and partner at Morgan Creek Digital Assets, previously shared with Chepicap by saying that there is a 50% chance that Bitcoin will close 2019 below $5000.

When the Morgan Creek partner was asked for his predictions for the closing price of BTC for 2019, Pompliano said there was still room for more price action downwards:

'I am always a Bitcoin bull, in the long term. I think that we probably have not seen the end of the bear market, and that we are probably going to be moving sideways for much of 2019. (BTC could close 2019)… anywhere between $2,000 and 4,000. I am about 50% confident that it will close under $5,000 at the end of the year.'

Read more: 10 times Bitcoin was declared dead… and survived

Price predictions of course are purely speculation based on previous market actions and should never be taken as gospel.

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Read more about: Bitcoin (BTC)

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