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Amid the continuing correction in Bitcoin and the broader crypto markets, top analyst PlanB believes that the BTC bull market is far from over. If Bitcoin’s RSI continues to hover above 90, PlanB calculates that the leading crypto asset will skyrocket over 450% in the coming months.
“RSI is 92 now and April is the 2nd month greater than 90. If this run continues 4 more months at RSI 92, BTC will be $300,000 in July (not saying this will happen, just what if). In my opinion, after next all-time high (maybe end this year), volatility will return and we can not rule out 50-80% draw down.”
In other trending Bitcoin News today:
Legendary longtime value investor Bill Miller told CNBC on Tuesday he believes Bitcoin is firmly entering into the mainstream, contending the cryptocurrency’s rally in recent months is significantly different from its 2017 ascension and subsequent plunge.
“I don’t think this is a bubble at all in Bitcoin, I think this is the beginning of the mainstreaming of it … I think it’s like digital gold.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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