Bitcoin analyses remain diverged on Bulls and Bears

bitcoin analysts remain divided between bear and bulls

Bitcoin is steadily moving up, and yet the analysts are still divided for over a week now. Experts analyst Murad Mahmoduv claimed in a Tweet – along with a data chart – that the coin is showing some progress but the longer it stays in the “titanium level thickness cluster of resistance” the more the chances to stay in bear.

He Tweeted that current trend isn’t very promising if the market continues the trend Bitcoin is likely to stay in reds longer than most analysts believe it would.

Last week, Chinese analysts claimed something similar about the market believing that the market is good for long-term investments since Bitcoin would not be able to see a new record high any time before two to five years. On the other hand, the other side of the analysis chain is a little over-enthusiastic about the coins progress as it reached four thousand dollars ($4,000) mark and continues to climb.

The second group of analysts is predicting that the currency is currently priming to see a new high above four thousand and two hundred dollars ($4,200), however, it may decline a little before reaching that mark. Basically, two steps forward and one step backward trend walk for the coin.

For  now the currency is resisting at about four thousand and sixty dollars ($4,060) while both sides agree on the fact that the currency is likely to take another dip below the four thousand ($4,000) mark before it gets up and start rising towards the current high after a long time of bear market trend in the range below four thousand.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Chia Coin Price Prediction 2023-2031: Is XCH a Good Investment?
DeFi predictions 2023: How will crypto and blockchain evolve? 
Dogecoin price analysis: DOGE shows bullish signal with $0.10 mark in sight
Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up?
Bitcoin breaks above $17K: a new beam of light for the crypto market?

Follow Us

Industry News

DeFi predictions 2023: How will crypto and blockchain evolve? 
Avalanche partners with Alibaba Cloud to launch new validators
S. Korean court rejects arrest warrant for Terra co-founder Shin
FTX ex-president plans new crypto startup
MetaMask founder comments on Apple's demand for a 30% cut of the NFT gas fee

Add Your Heading Text Here