Bitcoin (BTC) hit $21,200 early on Jan.14 and then eased back slightly to the $20,000 range.The cryptocurrency had not traded at these levels since before the FTX crash that dragged its price to its yearly low.Therefore, the current rise ignited the bullish sentiment of some traders.
“Bitcoin bear market is officially cancelled”,
said Crypto Rover trader excited about the increase to USD 21,000.However, many disagreed, including trader Hustle, who told him remembered that “we have just been pushed back by the key resistance.” “And we still haven’t reached a higher maximum”, therefore “nothing is cancelled”, he replied in the midst of this bear market that still seems not to change trend.
Despite this, Crypto Rover
countedfrom your bullish sentiment, which is buying $3,000 in bitcoin per day.
Y estimated who sees a historical sign of accumulation in this price zone.
Also, other analysts were bullish with this rise.
$25,000 could be the next step for some analysts
The trader SantinoCrypto
Indian that bitcoin is breaking the macro bearish channel with volume and consistency, surpassing the moving average weekly for the first time in almost a year.
“This is already something else, this already seems bullish to me,” she concluded.
And he warned that this rally It can have travel up to USD 25,000.
He also revealed that
will take advantage every kick to go long up to that number.Y clarified So while it’s not clear if we’ve seen the bottom of this bear market, see these prices as a buying opportunity for the next 2-3 years.
The issue of whether we have made a bottom in Bitcoin and Crypto is doubtful.What is clear is that the bullish rally has more strength than we all expected.It has caught many off guard.
SantinoCripto, cryptocurrency trader and lawyer.
However, other analysts dismissed that bitcoin could continue to rise.
With this rise, “people are already dreaming of USD 25,000”,
https://twitter.com/GranMag0/status/1613811478502723585?t=lz6Ah-BWrkWQLX2wF-3mPg&s=35 Great Wizard.But, at the same time, numerous top global companies in the cryptocurrency industry they are laying off employees, he recalled.“Don’t you realize that something is wrong?” she questioned.
GranMalo, who previously revealed that is investing in
bear futures, added: «I admit that I am surprised by the rise of bitcoin and the strength with which it is doing so, but I continue with my projection, I maintain that it is another good bull trap so that there is the bullish sentiment that exists at the moment.Come on, the usual.”
He deepened that, for almost a year (March 2022), we did not have so many green BTC candles in a row.
“It was when we pumped to USD 48,000 and you know what happened after, after 8 days we dropped USD 6,000”,
https://twitter.com/GranMag0/status/1613924787209883649?t=x0tZ79hlsjqgtdNgv8ix9w&s=35.«These rises are not healthy, they are manipulated by those who want you to believe that we are going to the moon (to the moon),” he said.
In this sense, GranMalo maintains its position that we have not yet seen the minimum of this market BTC bearish.Meanwhile, others think that he has already stepped on it, such as the economist Gael Sánchez Smith, who
https://twitter.com/gaelsansmith/status/1614173725670129668?t=3MzaJAqQaYsLwkFn7AWkmA&s=35 that this rally would confirm the bottom.“I see bitcoin as unlikely to drop below $15,600,” he estimated.
Bitcoin below $20,000 ‘didn’t make sense’, they say
Given this context, different analysts agreed that the crash that caused FTX to crash was completed, At least for now.Some of them were specialists
ImmortalCrypto y Adam Backwho further argued that bitcoin “below $20,000, it didn’t make sense.”
Also, ImmortalCrypto
stressed that $20,000 is a key price for three reasons.
It is the price before the all-time high it had in 2017, the last resistance before the new all-time high of 2021, and the breaking point of the FTX crash.“The battle to find acceptance above that figure will be tough,” he concluded..