What influencers and traders are saying about Bitcoin; is $5800 in sight?

03 Apr, 2019 | Updated: 03 Apr, 2019
by Will Heasman
Opinion
What influencers and traders are saying about Bitcoin; is $5800 in sight?

As this latest Bitcoin rally proliferates, so do the opinions of various analysts and influencers, so what are these traders saying about Bitcoin's next move?

Bitcoin currently sits at just under $5,000, tantalizingly close to breaching 5k for the third time, leaving almost everyone in the crypto community on the edge of their seats wondering just where BTC is headed. As such various analysts, traders and Influencers are vying to have their voices heard, offering their sage advice and suggestions as to what might occur next.

One prominent trader and influencer, known as “Crypto Bitlord” has indicated that price action may go one of two ways, either a straight shoot through $5k, or a retest of the $4k range… in other words, it might go up, or it might go down. Solid call.

A few replies seemed to suspect a retest may be in store:

Taking a more authoritative stance, our next analyst seemed confident that BTC had found a bottom, and could expect more upside; potentially gravitating to around $5800-6000:

Within the video mentioned, the analysts depicted two levels of resistance which could usher in, either a continuation of the bear market or further upside.

The first level sits just above $5000, which the analyst calls “minor resistance” suggesting that it will easily break. The next level of resistance sits high at around $5800, which is a more substantial level and could dictate either a continuation of the bear market or a move higher.

However, one analyst took a slight more bearish approach, suggesting that this hype was reminiscent of a historically bad episode for BTC:

A few seemed to agree:

However, one rejected the idea, suggesting that this steady rise gives momentum to further upside:

 So for now, it seems as if the true test of bull or bear will be the 5k hurdle if we can break through towards resistance at $5800 we may be on our way to a bull run. Here’s hoping.

Read more: 8 Altcoins outperforming Bitcoin during this cryptocurrency pump; Bitcoin can topple $100K; XRP could grow by 3x, says analyst

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Read more about: Bitcoin (BTC)

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