The latest Bitcoin news showed the recent rally of the most dominant cryptocurrency. Despite the months-long resistance at $4,200, BTC seems to have reignited the market’s bullish performance. After nearly a year and a half of the bear market, analysts are now sure that a potential bottom may be in – and that this bottom is causing the bulls to become even more confident that the worst is behind us and a new chapter in the crypto market is coming.
According to one crypto analyst, all of the top cryptocurrencies are behind and held back by Bitcoin’s current resistance level. Once this level breaks, as he said, a new bull run will begin. Known as ScienceGuy9489, this analyst made waves in the crypto space and gained a lot of attention because of his prediction.
He also predicted a break out for Bitcoin, Ethereum, Ripple and Litecoin – showing the potential dates for this to happen. Meanwhile, the bullish calls started out when the Bitcoin price rose to nearly $1,000 in an hour – which is more than the previous two months of price growth combined.
The analyst has since then become a crypto celebrity – and a popular figure for his predictions about the number of charts and the future shape of the market.
#BTC breaking out above $5,260 will cause another bull run. #ETH, #LTC, #XRP, #XLM, and other #cryptocurrencies are being held back by this. Expect big gains there when this #Bitcoin resistance is broken (and sustained). This is the weekly chart, a good long term indicator. pic.twitter.com/KkjzXgjDPu
— Etherdamus (@Etherdamus) April 9, 2019
In his latest tweet, the analyst also claimed that a breakout above $5,260 in Bitcoin price charts, will “cause another bull run” and suggested that Ethereum, Litecoin, Ripple and Stellar are being held back by the critical resistance level.
If this resistance is broken, the analyst says to “expect big gains” – especially if this rally is sustained. If Bitcoin is unable to break through $5,260 and maintain its gains, he recommends selling the resistance until it is eventually broken.
Side Note: If it fails to surpass $5,260, it would not be a bad idea to sell until this level is broken.
— Etherdamus (@Etherdamus) April 9, 2019
The previous predictions by ScienceGuy9489 came with oddly specific breakout dates. Even though these dates haven’t yet been reached, all of the proposed breakouts of downtrend lines have occurred.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post