Amidst all the Bitcoin bullish analysis, analyst @blockchainblitz has predicted otherwise, claiming that Bitcoin might actually plunge. Sharing a chat to that effect, he believes that the crypto will plunge and sets the stops for short, medium, and long fall. He believes that Bitcoin will plunge stopping at $7,650 level at least or go as much as $5,250.
The tweet has however generated 33 likes and 8 retweets as people react in the comment session that @blockchainblitz might be right with his analysis.
#Bitcoin short/mid/long term game plan
Will look to re-enter spot and GBTC holdings at one of these levels, if and only if shorts are piling back on again.
Until then, will be shorting rallies. pic.twitter.com/wlV2UKDTtp
— Brrrrrrrrent (@blockchainblitz) May 1, 2020
However, last week after Bitcoin price rose above $9,000 and dropped back to $8,000 region which it still trades at, because of this, analysts have predicted that Bitcoin will rise to $20,000 very soon as a lot more people are investing on it now.
Also, the approaching Bitcoin halving event which is 10 days from now seems to have attracted the interest of more investors who now are joining the Bitcoin bandwagon making the Bitcoin bullish trajectory more achievable.
Regardless of the fact that Bitcoin could not hit $10,000, crypto analyst @TheMoonCarl has said that the Bitcoin will hit $20,000 very soon because of the halving event.
BREAKING: The number of non-zero #Bitcoin addresses just reached an ATH of above 30 million addresses!
People are flooding into $BTC right now! It’s only a matter of time before $20,000 is broken!
— The Moon (@TheMoonCarl) May 1, 2020
Bitcoin bullish prediction: Crypto’s $20,000 rise, a matter of time
@TheMoonCarl in a tweet said recently that the number of non-zero Bitcoin addresses has broken the 30 billion figure. This number is according to Glassnode, a blockchain data firm that gave this information on Twitter.