The glory days may be back for Bitcoin. Various analysists have expressed a bullish view regarding the Bitcoin price fluctuations in the short term. The predictions are all looking good, and they’re showing a positive path for the future of Bitcoin. Analysts and financial institutions are seeing an improvement over the cryptocurrency markets as well.
Yesterday, April 24, Bitcoin finally rose over the $9,000 level. Currently, Bitcoin is trading at $9,349 according to Bitfinex.
Bitcoin may surge above $11,500 soon
Crypto analyst and Blue Line Futures’ president Bill Baruch just set a short-term target of $11,500 to $11,800 for Bitcoin. This is important because he’s not only a crypto analyst, but he’s famous for making accurate predictions involving the Bitcoin's price.
For instance, back in February when the overall cryptocurrency market was not enjoying its best days, and Bitcoin fell under $7,000. Baruch said that the crypto would definitely surge back to $10,000 levels. After that, March brought excellent news for investors as Bitcoin did rise above $12,900 with an average month price of $10,500.
Now, especially considering that the tax deadlines in the U.S. finally passed, Baruch is confident once again that the crypto prices will continue to surge.
In an interview with CNBC, Baruch explained that “After fighting regulation headwinds and tax selling, the path of least resistance is higher, and I believe the sector still has much more upside in the long run. The ultimate upside is $11,500 to $11,800.”
More experts are backing up Baruch’s predictions
According to the crypto analyst, the recent growth of the crypto looks healthy, and it does not only involve the Bitcoin’s surge; it’s also about many other altcoins that are seeing some significant moves.
He said that he sees this whole movement in the crypto market as a bullish catalyst for it overall. More analysts are backing up Baruch’s views on the right future of Bitcoin and the whole cryptocurrency market these days. Such names include Brian Kelly, CEO, and founder of BKCM, billionaire tech investor Tim Draper, Naeem Aslam, ThinkMarkets chief market analyst and more significant experts