‘Zone of heavy opportunity’: Analysts tip Bitcoin will stage a comeback
Several popular cryptocurrency analysts believe the future looks green for Bitcoin (BTC) as it reclaimed the $40,000 mark in a 3.5% swing following a week-long dip.
Popular Bitcoin technical analyst on Twitter TechDev issued a prediction to his 381,000 followers that the general direction for the largest cryptocurrency by market cap will be up for the foreseeable future.
His April 14 chart drew a comparison between the tremendous rise of the Dow Jones Industrial Average in the '80s and '90s to Bitcoin's price over the past six years. Past performance is no guarantee of future returns but there are some similarities to the historic price action that if repeated, would suggest the Bitcoin price will rise from here. The analyst said “Times change. Assets chain. Macro aggregate human behavior usually doesn’t. #BTC”
Times change.Assets change.Macro aggregate human behavior usually doesn't.#BTC pic.twitter.com/NFhUA2hcYH
Lead Insights Analysts at Bitcoin mining firm Blockware Solutions Will Clemente pointed out that BTC is in a “zone of heavy opportunity” based on data compiled by his firm and blockchain analytics firm Glassnode.
He tweeted on April 14 that “This is also the longest time Bitcoin has ever spent in the zone.”
Only a few other times has Bitcoin reached the zone of heavy opportunity. (green)This is also the longest time Bitcoin has ever spent in the zone. pic.twitter.com/bvQr4FZqFC
Real Vision founder and crypto investor Raoul Pal appeared on the Layah Heilpern Show on YouTube to discuss macroeconomic effects and cryptocurrency on April 13. He said that despite all of the things that the crypto market has endured over the past two years including the COVID pandemic, rising inflation, and the war in Ukraine, crypto still
Read more on cointelegraph.com
