The crypto community remains bullish long-term on BTC but when it comes to predictions for the next few weeks, opinions of analysts and traders have begun varying. Long-term forecasts are pointing towards $16,000 by June and indicate that the Bitcoin price should grow due to the new CME BTC futures gap.
BTC $16,000 BY JUNE
Crypto trader CryptoWolf said that by June 2020 the price of the flagship currency will surge to $16,000 per coin. After the halving takes place, miners’ rewards for verifying transactions on the BTC network will be reduced by half. The majority of BTC investors are expecting the BTC price to skyrocket, since the event will make BTC a more scarce asset.Some of the boldest predictions have it that within a year or two after the halving, BTC will hit from $250,000 to $1,000,000!
BTC FUTURES ON CME CREATE ANOTHER GAP
Earlier today, crypto trader Scott Melker took to his Twitter page to share that he noticed a new gap on the CME BTC futures chart. However, he points out that, this time, the gap is down.
In the comment thread, he talks about bullish divergences. He says that, in theory, the BTC price should rise after a downward gap is filled.
The thing is that Bitcoin futures on the Chicago Mercantile Exchange (CME) trade only five days a week. The BTC price between the Friday closure and Monday opening may be different, which creates a gap. Later on, these gaps get filled.
THE MAIN ZONE IS THE $8,250 AREA
Crypto analyst from Amsterdam CryptoMichNL expects BTC to decrease a little and backtest the support level of $8,250.However, he admits that, should BTC break through $8,850-$8,900, his view and forecast may change. He says that market needs a calmer pace before continuation.
WHAT IS YOUR OPINION ABOUT THIS?
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