On Friday Bitcoin rallied a little over 6% and the rapid move above the $5,488 resistance has turned analysts like Peter Brandt and Murad Mahmudov bullish on the largest digital asset. Will BTC tackle $6,000 next?
Bitcoin Price: Market Overview
Things are looking up for Bitcoin price 00. Surprisingly the Tether – Bitfinex debacle appears to have had a limited impact on the bullish sentiment present in the crypto market and Bitcoin is now up 51% from its 2018 low.
At the moment it seems everyone from the world of institutional finance like Fidelity Investments, the Intercontinental Exchange (ICE) to analysts like Barry Silbert, Tom Lee and Peter Brandt are labeling Bitcoin’s current price action as indicative of a bull market. Let’s take a quick glance at the charts to see what’s going on.
The 12 and 26 EMA are on the verge of pulling off a bull cross on the weekly time frame for the first time since early October 2015 and the Bitfinex premium has already pushed BTC price above $6,000. BTC’s most…