Bitcoin is on a major recovery that has been ongoing since the start of April. Although this was anticipated, it seems Bitcoin might be doing more than most people thought. This is being confirmed by the crypto trader and market commentator, The Crypto Dog. with the handle @TheCryptoDog According to him, the ongoing market prices were predicted in the year 2018 so it is not surprising.
“I might be wrong”
The Crypto Dog though at home with the current rally which he says is no surprise, he is starting to rethink his expectations as Bitcoin might break through and go beyond expectation. He had predicted that Bitcoin could hit the low $6Ks, around $6,200 as a sign that the bear market is over. In his 2018 prediction, he said:
“It is my opinion that Bitcoin is in the final stages of this bear market. I expect the price to range between an absolute low of $1800 to an absolute high of $6,200 (more likely, $3000-5400) for a substantial period of time.”
A pleasant surprise
Clearly, The Crypto Dog did not expect Bitcoin to go too far and though he reluctantly considered it reaching $6,000, he didn’t imagine it would come this fast and if it did, he expected it to stay there for some time. As it turns out, Bitcoin is coming with so much force that it has the potential to shoot right through $6,000 without a stop until probably $6,500. This will be a pleasant surprise indeed, both for traders and investors.
Vinny Lingham earlier this year said Bitcoin will have to reach $6,200 before the crypto winter can be said to be over. As it stands right now, the crypto winter by Lingham’s definition will be officially over in the next few days if it takes that long. With a sustained price gain of $100 in an hour, Bitcoin has the required momentum to hit $6,000 in no time. The asset is currently valued at over $5,800 now and still pushing towards that mark and we may be seeing some unprecedented growth in the next 24 hours.
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A cryptocurrency enthusiast, author, and investor with high motivation in cryptocurrency/blockchain research and writing. He loves birdwatching and traveling. Follow him on Twitter at @Ponvangbu