Where is Direction in Bitcoin (BTC) Price? What Popular Analysts Say

Bitcoin (BTC) has recently recovered slightly, and although some analysts have predicted that it could test previous lows, the largest cryptocurrency remains in position above $ 6,500.

Although a downside scenario seems more likely in the short term, traders generally expect the upward trend in BTC to continue.

Bitcoin (BTC) Can Test $ 7,100

Popular cryptocurrency analyst Michael Van De Poppe stated that he is expecting a rise by sharing his thoughts about Bitcoin on Twitter. Michael says that Bitcoin can test the $ 7,100 level one last time. According to the analyst, if BTC fails this test, it can return to the levels of 5,800-5,600.

$ BTC the #BITCO

Might have another spike towards $ 7,100 to take liquidity, but overall I’m still expecting downside to come.

First area I’m watching is the $ 5,600-5,800 zone.

Equity markets are also in red today + tomorrow is CME futures expiration day. pic.twitter.com/thefmfhxtt

– Crypto Michaël (@CryptoMichNL) March 26, 2020

Crypto money trader is among those who think BTC is in a downtrend in George. Trader says it is only a matter of time before BTC creates a large $ 700 red candle.

Just a matter of time before we see a red $ 700 candle.

Good morning! ?

– George (@ George1Trader) March 26, 2020

Crypto trader Bitcoin Jack tweeted the biggest bull view ever, saying that Bitcoin will rise more than $ 2,000 to reach $ 8,876. Jack said that his prediction may be crazy to investors in the current situation, but a major move is very soon.

It’s officially the…

? 26th, Vendetta day$ BTC takes no prisoners

The roast I’ll get if I am wrong is going to be insane

Manage your own risk

My thoughts ? https://t.co/skyyCteeGt the pic.twitter.com/c6fbnz5xu

– // Bitcoin ?ack ? (@BTC_JackSparrow) March 26, 2020

Fasten Your Seat Belts

Renowned trader and investor Crypto Rand reminded that a massive Bitcoin event (long-awaited half) will take place within forty days, and after the halfway, the miners’ rewards are halved and some miners are expected to shut down their equipment and quit mining.

the the #Bitco halving is coming in less than 50 days.

En Fasten your seatbelts for the long run ? pic.twitter.com/9ırmrtdkkd

– Crypto Rand (@crypto_rand) March 26, 2020

Both factors, and especially the first factor, will reduce the amount of newly released BTC and therefore limit the number of supplies. Crypto Rand also states that Bitcoin holders should wear their seat belts, but should not wait for the rise immediately.