Four popular cryptocurrency analysts remain bullish on Bitcoin BTC/USD after the apex cryptocurrency shrugged off worries about the new highly-mutated Omicron coronavirus strain and rebounded on Sunday night.
What Happened: Pseudonymous analyst Smart Contracter told his almost 194,000 followers on Twitter that Bitcoin is due for a strong bounce up to the $63,000 level amid indications that the correction is almost over. He added that the cryptocurrency could touch a new all-time high in the “best case scenario.”
See Also: How To Buy Bitcoin (BTC)
The Crypto Dog, a pseudonymous technical analyst, told his more than 693,000 followers on Twitter he lives his life by following a simple rule that eventually someone is always going to buy Bitcoin.
Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe has projected that Bitcoin is close to the end of correction and might surge to $56,000 in the next 24 hours or less.
He added that the prices of some altcoins will fall even further before accelerating from January next year.
Justin Bennett, a cryptocurrency analyst and trader with over 91,000 Twitter followers, also expressed his bullishness about Bitcoin. He noted that Bitcoin just closed above the $55,000 level last week.
Why It Matters: Bitcoin fell along with other risk assets on Friday amid fears about the potential impact of the new Omicron COVID-19 variant on the global economy, but has rebounded as of Sunday night.
The apex cryptocurrency’s year-to-date gains stand at 95.9%.
Price Action: Bitcoin is up almost 5.5% during the past 24 hours, trading at $57,550.00 at press time.
Read Next: More Than $750M Worth Of Crypto Positions Liquidated On Concerns Over New COVID-19 Variant 'Omicron'
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
