Bitcoin (BTC) Price Could Spike to $9,500 if It Holds The Current Level: Crypto Analyst
MUHAMMAD ISMAEEL
Predictions
5 years ago
1 QCP
The Bitcoin price demonstrated a prompt bullish response to the escalation of the US-Iran conflict surging and reacting as a safe haven. However, when further escalation didn't appear on the horizon, the price went back below $8,000. At press time, Bitcoin is trading at $7,700.
The crypto analyst believes that if the price of the major cryptocurrency remains at its current level, it is likely that it can reach $9,500.
The bulls could take BTC to $9,500
Analyst @CryptoMichNL believes there are two possible scenarios in which the Bitcoin price may follow from its current spot on the charts. The first one is bullish – if BTC can hold the current level of $7,751, then it could later surge towards $9,500. To achieve this, several psychological levels between $8,000 and $9,000 would have to be overcome.
Another option is that failing to stay at the current price mark, Bitcoin could start dropping towards $6,400 or $5,800. The analyst also gives a similar prediction on the ETH price here.
The crypto analyst believes that if the price of the major cryptocurrency remains at its current level, it is likely that it can reach $9,500.
The bulls could take BTC to $9,500
Analyst @CryptoMichNL believes there are two possible scenarios in which the Bitcoin price may follow from its current spot on the charts. The first one is bullish – if BTC can hold the current level of $7,751, then it could later surge towards $9,500. To achieve this, several psychological levels between $8,000 and $9,000 would have to be overcome.
Another option is that failing to stay at the current price mark, Bitcoin could start dropping towards $6,400 or $5,800. The analyst also gives a similar prediction on the ETH price here.
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