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Ever since the Bitcoin price shot over 1,000% higher in 2017 to hit $20,000 – a BTC price point that was once seen as relatively unobtainable by even some of the cryptocurrency’s most dedicated bulls – analysts have been waiting for the asset to “moon” once again.
Bitcoin Needs to Break Past Ultimate $14,000 Level
While Bitcoin (BTC) surged as high as $20,000 in 2017, it didn’t stay at this level for long, failing to establish any semblance of support in that region. In fact, it closed the month of December at $14,000 – 30% below the all-time high as bulls failed to maintain momentum.
For those not versed in technical analysis, this close meant that $14,000 became the level to cross above on a monthly basis, for a close above this ultimate resistance would suggest a higher high has been established.
A chartist going by “Delboy” doubled down on this in a recent tweet, remarking that Bitcoin’s long-term chart is showing signs that $14,000 might be key in launching the price of BTC “to the moon.”
Bitcoin has been in a slight pullback for the past few days, having descended from above the psychological $10,000 level.
A crypto trader talks about Bitcoin inflation comparing it to the inflation target set by most central banks and makes a bullish long-term prediction on BTC. ‘BTC COULD EASILY JUMP TO $200,000 WITHIN 2 YEARS!’
On his Twitter page, trader TheMoonCarl has shared data that after the approaching halving of the major cryptocurrency, the Bitcoin inflation is going to reduce from the current 3.6 percent to 1.8 percent.
As per him, the majority of central banks have set themselves a target to keep inflation at 2 percent, so the BTC inflation is going to be lower.
The trader also states that within two years, the price of Bitcoin could easily hit $200,000.
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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.