The Bitcoin price is all over the news and many best cryptocurrency news sites are already predicting another bullish outbreak. Since BTC visited $11,300 yesterday, there have been talks about the cryptocurrency propelling further, with some stating that Bitcoin to $60k is definitely one of the possibilities.
The flgaship cryptocurrency is in an ever-growing chorus and is flying higher. According to one trader named Josh Rager, the bullish situation calls for a prediction. Rager has made a really bold prediction about BTC and said that Bitcoin to $60k is definitely how this nice journey may continue in the coming months.
In a series of tweets, Rager noted that the price of Bitcoin goes past the $11,700 mark soon, it will find little resistance and eventually break through to new highs that we have never seen before.
His 43,000 followers were excited following the Bitcoin to $60k price prediction. Following the latest cryptocurrency news, we can certainly say that Rager is a well-followed Bitcoin trader who never lacks technical data. Late last month, for example, he pointed out that every Bitcoin bull cycle has been longer than the preceding one.
$BTC Bull Market Cycles
As you look at the historical cycles on the Bitcoin chart, you will notice that each bull market cycle exceeds the length of the previous uptrend
Don't worry about pullbacks, Bitcoin is likely less than 1/4 into the current uptrend to the next peak high pic.twitter.com/CCesZphBWD— Josh Rager 📈 (@Josh_Rager) May 31, 2019
Given that Rager thinks that Bitcoin to $60k is a possibility and that the current bull cycle will definitely give us new yearly highs, the cryptocurrency still has a lot of room for growth. Hence, the thinks that there will be a resistance at $11,700 as the price of Bitcoin tends to rally for five weeks before hitting the breaks.
During last bull uptrend & currently, there has been a pattern of at least 5 weeks of green before next major pullback
While I am still cautious between here & $11,700, this is only the 2nd week since last major pullback
Be wise, prepare for anything, but also take note pic.twitter.com/hM5mvSZ0Ir— Josh Rager 📈 (@Josh_Rager) June 22, 2019
Knowing that the last pullback was just a couple of weeks ago, Bitcoin should keep running higher despite the recent correction. As Rager’s technical analysis notes, if that happens, we could see Bitcoin breaking out past the $11,700 resistance and zooming further.
A lot of altcoin news sites featured other traders who are setting ‘Bitcoin to $60k’ targets. One of them is Galaxy, who recently painted a $62,000 price target on Bitcoin based on all the past trends and technicals. He further noted that the cryptocurrency could hit these levels by the end of October this year.
Year 2017 had a similar weekly candle set-up as the one today, which was followed by a 570% price increase over the next 147 days.
Another similar price increase puts BTC price at ≈$62K by the end of October 2019. #bitcoin $BTC pic.twitter.com/M7NkHthY2M— Galaxy (@galaxyBTC) June 17, 2019
Meawhile, Fundstrat’s Thomas Lee was also in the news with his big price target on Bitcoin. He expected the cryptocurrency to quadruple once it is past the $10,000 FOMO level.
BTC Retracement To $7,150 Could Mean A Visit To $7,800 Soon
“Wouldn’t surprise me to see something like this, as long as we hold green. Breaking and flipping back above $7,150 would make the price go back in the range & then we’re eager to look for $7,800 later on. Crucial to hold green, nonetheless.”The bears are resilient over the price of Bitcoin on the market since it became a thing of concern to most of the enthusiasts, investors, and traders. Bitcoin recorded yearly price highs and has been a cause for agitation in the crypto community especially among the newcomers in the trading and investment area. The majority of the analysts believe that the Bitcoin halving will cause a massive turning point for the Bitcoin price as they considered the previous halving into consideration.According to the history of the previous Bitcoin halving, one year after the event is expected to welcome a parabolic price uptrend of the altcoin. This event is scheduled to take place every four years and this was last conducted in 2016 so the next halving is expected in May 2020. To be fair, the halving has been mostly favorable to the price of BTC and it was also believed that the effect of the 2016 bitcoin halving aided the price of the crypto to the record-time high of $20,000.
Syrian Refugee Is Teaching Cryptocurrency Basics In A Camp In Iraq
“People really need to know all the things about the internet and their phones and laptops,” the Syrian refugee claims. “We are in an advanced world and we should learn."Aldeen now owns a small amount of Ether (ETH) which he said he earned through a local education program run by the nonprofit Hello Future. However, as he claimed in the ETH news, his possessions are too little to spend so he is eager to earn more.As we could see from the Hello Future founder Charlie Grosso, most of the students in Aldeen's class think of mobile devices and computers in the same way like old-school Nintendos. They know that they could play games on them but are unfamiliar with Internet or access to global networks.
“The idea of searching to verify information is unknown to them,” she said. “They just don’t have that framework.”The Syrian refugee is obviously looking to change this and teach them everything about cryptocurrency and the latest crypto news. Even though the learning curve is steep for people in this camp, Grosso is confident that all 44 teens who took her computer literacy class quickly grasped the concept of stateless digital money.
“Two years ago, I got my first phone. Now everyone in my family has a smartphone,” Aldeen said. “I like games like Minecraft because I can build things, design things and improve my English.”The Syrian refugee also stated that cryptocurrency "might be good for saving money because if you put your money inside a bank, the bank might steal it."
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