'If BTC breaks $6,400, it might surge all the way to $8,000', analysts say

09 May, 2019
by Joeri Cant
Bitcoin
'If BTC breaks $6,400, it might surge all the way to $8,000', analysts say

CNBC contributor, and founder of KKM Financial, Jeff Kilburg, appeared on CNBC's Futures Now, where he stated that BTC could be due for a pullback towards $5,800, unless it surges all the way to $8,000.

The KKM Financial founder, Jeff Kilburg, warns that although we should celebrate and enjoy the fact that Bitcoin has been able to move upward, right here and now, Bitcoin is taking a bit of a pause.

'I want to be a seller here, at $6,200', Kilburg says. 'I'm looking for a drop from $6,200 to $5,800. Just a little back and fill.'

Although Kilburg is putting out a warning to be cautious, and to expect Bitcoin to be due for a possible pullback, he fully agrees when another crypto analyst points out the possibility for the world's number one cryptocurrency to break through the $6,400 level and surge all the way towards the $8,000 price mark.

Today, Chepicap reported that veteran trader Peter Brandt spoke to CNBC Crypto Trader host Ran NeuNer, where he stated that there is a chance that we are going into the third parabolic move of modern times.

Brandt went on to say that when you look at a market and you see the possibility of three parabolic moves in a decade’s period, 'that’s unheard of and that perhaps has not been seen since we saw German interest rates in the 1920s.'

Brandt seems to think that the evidence is coming down on the side that a third parabolic move is a real possibility, and that the next stop Bitcoin is $50,000.

Hold on to your chairs, we are in for a wild ride.

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