Bitcoin enjoyed as much as a 50 percent price rally at the end of the first month in 2020 and analysts think the price can still go further on.
Financial analyst and the chief developer of the Bollinger brand, John Bollinger recently composed a tweet where he stated that if Bitcoin eventually breaks the resistance, a Bitcoin price surge in the digital assets market is expected.
John Bollinger believe bitcoin will move in a bearish pattern
If Bitcoin breaks all key resistance in the months to come, it could make a price surge as high as possible.
The keynote in his tweet was the fact that he believes Bitcoin would not be affected by external factors that can pull it in a bearish position but rather would record a bearish run.
He noted that Bitcoin is about to reach a point where adoption would be widespread.
When the crypto was involved in March sell-off that saw its price go down by 50 percent, the developer noted that the coin was acting against all that he expected and talked about.
He said no matter what, he would continue to hold on to the motive that Bitcoin would still come in handy in times of financial problems.
Furthermore, in April, freshly after Bollinger predicted a price squeeze, the price moved just 40 percent.
Tone Vays believes a Bitcoin price surge is about to occur
Tone Vays says he believes that since the demand for Bitcoin has grown increasingly more than the amount of Bitcoin produced, the flagship crypto can bank on that and make a price surge in the coming weeks.
The manager at Grayscale says a Bitcoin price surge is imminent and banks on the fact stated above by John Bollinger.