While the Bitcoin price continues to be at the $28,000 limit, some crypto analysts have expressed their views on BTC rising above $30,000.
Two Analysts Talked About the Performance of Bitcoin Price in the Future Period
Fiona Cincotta, senior financial markets analyst at City Index, said in her statement about BTC:
“After the impressive rally in March, we are now seeing a period of consolidation just below $30,000. The bulls pause to catch their breath before the next attack on this key resistance.”
Still, a break above $30,000 still "looks likely," Cincotta said.
Perhaps seasonality can play a role in this. According to data compiled by Bespoke Investment Group, April has been a generally solid month for Bitcoin, ranking as the second best month after October.
Miller Plate + Co. Chief market strategist Matt Maley said in a statement that BTC tends to trade within a certain range for a while, after recent sharp movements such as the March jump in Bitcoin.
“When BTC makes such a move, investors get nervous about this move and the coin falls into a sideways range for a while, this has happened six times in the last year,” Maley said. said.
Bitcoin price is trading around $28,028 with an increase of 0.08% in the last 24 hours at the time of writing.
*Not investment advice.
