RATE Group | Why Analysts Think Bitcoin’s Surge to $7,450 is Just the Beginning
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Why Analysts Think Bitcoin’s Surge to $7,450 is Just the Beginning

06 Jan Why Analysts Think Bitcoin’s Surge to $7,450 is Just the Beginning

Posted at 02:51h in Bitcoin News by

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Over the past few hours, Bitcoin (BTC) has begun to gain momentum once again, pushing past $7,400 after remaining trapped under that level for the past two-odd days. As of the time of writing this, the leading cryptocurrency is trading for $7,470 — registering a 2.22% gain in the past 24 hours. Altcoins have followed suit, posting similar slight gains across the board as bulls are stepping in.

Although already a strong performance, analysts expect Bitcoin’s gains to continue into next week, with some even going as far as to say that the cryptocurrency could top $9,000 by the end of the month, maybe sooner.

Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000

Bitcoin’s Rally Just Starting

Cryptocurrency and forex trader Livercoin posted the below tweet on Saturday, showing that he believes Bitcoin has been trading like a textbook Wyckoff Reaccumulation-esque pattern over the past few days.

The textbook pattern, should BTC follow it to a T, suggests…

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