Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
As Bitcoin seems to be forming its news base at $4000 levels a few crypto analysts call this the start of the next bull run.
Last one year has been a brutal bear market not only for Bitcoin (BTC) but the entire cryptocurrency market. Almost all of the top-ten cryptocurrencies have lost massively during this period with their prices dropping nearly 80-90%.
However, the price movement in Bitcoin and other cryptocurrencies, over the last two weeks, has given some hope to crypto investors. Bitcoin (BTC) is currently trading above $4000 levels and looks like it is forming up a new base there.
While at this junction, crypto traders are back with their bullish predictions on long-term price movements of top-four cryptocurrencies by market cap.
Bull-Reversal Like 2015
CoinDesk analyst Omkar Godbole writes that mapping historic charts patterns to the existing one, we are in for a long-term bull market transition. To draw the analogy, Godbole compares Bitcoin price for 2014-2015 to that of 2018-2019. He wrote:
“Bitcoin produced a similar pattern during the previous bear market witnessed in 2014–2015. More importantly, the upside break of that falling channel, confirmed in October 2015, was followed by a two-year bull market. Therefore, a potential upside break of the latest falling channel could be considered a sign of a long-term bearish-to-bullish trend change.”
Another crypto trader ScienceGuy9489 has come with a series of bullish prediction for four cryptocurrencies in the top-ten. ScienceGuy9489 remains bullish on the long-term journey of Bitcoin, Ethereum, Litecoin, and Ripple. Also, his latest Twitter posts have left the crypto community buzzing.
With his new charts, ScienceGuy9489 predicts the break-out dates along with price targets. For Bitcoin, the crypto trader has set April 11, 2019, as the “liftoff date” date. He says that the price breaker could set Bitcoin on its next journey to its all-time high of $28,100.
For Ethereum (ETH), the crypto trader has given the break-out date as April 24, 2019, with a target price of $2090.
For the third-largest cryptocurrency Ripple (XRP), the analyst predicts a break-out towards its previous all-time high of $4.
ScienceGuy9489 remains positive on Litecoin’s (LTC) bullish price movements in the last few weeks. He notes that Litecoin is trying to break out currently. The crypto trader has set a new all-time high target for Litecoin at $650.
Not Everyone Is Bullish
Unlike the crypto trader ScienceGuy9489, an analyst from the FXStreet says that bears are regaining the control of the crypto market. The analyst also predicts Bitcoin correcting to $3000 level in the short-term. Ken Chigbo worte:
“The bears have been pressing and testing the key daily ascending trend line to the downside. A breach is very possible given the current pressure. The noted running support has been in play since 6th February, a breach could very devastating.
BTC/USD could be victim of chunky selling pressure should the comfort line give way, eyes on $3,900, where the trend line is currently tracking. A breakout south could open the door to a retest of $3,000 to the downside.”