Crypto analysts see the BTC/USD pair hitting new highs in 2019, following the bullish momentum that continues to push Bitcoin above the $11,000 region.
Bitcoin (BTC) surprised the community as it continues to reach new highs in 2019, breaking past $10,000 and settling above the $11,000 region. But analysts believe that the next BTC/USD pair rally is stronger.
Getting more attention driven from the launch of Facebook’s digital token Libra, Bitcoin strides on its bullish momentum. It also shows signs that it may conquer the $30,000 region, with some analysts being more optimistic with their $60,000 price prediction.
Alex Kruger, who specializes in cryptocurrencies, recently tweeted that a new $40,000 high may not be too far from happening:
“$BTC increased 250% between the December lows and now. Another 250% increase would take price to $38.5K. (Past performance not indicative of future results)”
$BTC increased 250% between the December lows and now. Another 250% increase would take price to $38.5K.
(Past performance not indicative of future results)
— Alex Krüger (@krugermacro) June 23, 2019
Naeem Aslam, an expert in financial markets, wrote in his Forbes article that BTC/USD will reach further heights in the next rally:
“One can call it a bubble, but this time the Bitcoin price range could very well be between $60,000 to $100,000.”
He also noted that as more institutions warm up to Bitcoin or bring the spotlight back to it, the cryptocurrency will have a much bigger potential to set new price records this year.
Aslam previously set $20,000 and $50,000 as the levels to look at, but had since then shifted to a higher range following Bitcoin’s recent bullish movements.