August 9, 2022

The next big Bitcoin price move: Optimism is high, but is it justified?

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The crypto market seems to be once again heating up, with Bitcoin (BTC) flirting with the $60,000 mark for almost a week now. However, despite its bullish outlook, the flagship crypto has failed to steer clear of the aforementioned price range with any sort of conviction, even though it did break through once, albeit for a brief period of time.

Regardless, analysts, such as Filbfilb, co-founder of trading suite DecenTrader, and Willy Woo believe that with the Coinbase IPO looming large on the horizon, Bitcoin seems primed for big things in the near term, especially as the premier crypto continues to exhibit seven-day gains of over 13%.

On the subject, Filbfilb recently stated: “We may see increased volatility around this time period of the 14th April. I do think that we are on the brink of a strong breakout.” He also later pointed out that the bears are still in play, hence the volatility may not just be to the upside.

Similarly, Woo is of the opinion that Bitcoin will continue to rise for at least some time before the old hodlers offload their assets to pocket some decent gains. Not only that, regardless of what may happen in the future, Woo believes that Bitcoin Title: The next big Bitcoin price move: Optimism is high, but is it justified?
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Published Date: Mon, 05 Apr 2021 14:04:00 +0100