Yesterday, every crypto news outlet was talking about the Bitcoin bull run. The price of Bitcoin and altcoins started surging higher against the USD and were still trading in green at the time of writing. All those who have been asking questions like will Bitcoin recover is Bitcoin dead, will the Bitcoin halving help the price of Bitcoin to rise, is the Tom Lee Bitcoin price prediction or the Tim Draper Bitcoin price prediction correct, etc., were super excited about the price surge. As the prices peaked, a new Bitcoin price prediction was revealed by Jason A. Williams the co-founder of Morgan Creek Digital. This Bitcoin price prediction places it above the highest price of Bitcoin.
Is Bitcoin Dead Or Will Will Bitcoin Recover To $28,000 Soon?
The highest price of Bitcoin was almost $20,000. After the Bitcoin bull run of 2017/2018, the price of Bitcoin started to fall dramatically against the USD. As things begin to get better and the price of Bitcoin starts recovering, Williams is suggesting the BTC will soon move as high as $28,000. The expert cryptocurrency analyst took to Twitter to share a post by another cryptocurrency analyst called ScienceGuy9489.
Bitcoin (BTC) Price Today – BTC / USD
ScienceGuy9489 suggested that in April, the highest price of Bitcoin will be $28,000. He also said that the highest price of Ethereum will be $2,000 and the highest price of Litecoin will be $650 by April or May 2019. April is next month. So, is Bitcoin dead or will Bitcoin recover to $28,000 by next month?
ScienceGuy9489 made reference to the technical analysis of Bitcoin. He noted that the gap between the 100 DMA and the 50 DMA is closing slowly and the 50 DMA will soon cross the 200 DMA paving a way for a Bitcoin bull run. This prediction is positive just like the Tim Draper Bitcoin price prediction and the Tom Lee Bitcoin price prediction. However, it seems like a stretch because of the timeframe.
Is Bitcoin Dead Or Are There Fundamentals To Support A Bitcoin Bull Run Above $20k?
Apart from the technical proof he presented, he also said that there are fundamental points that support the rise in the price of Bitcoin. According to Williams, Bitcoin is about to see a lot of institutional and smart money. To be fair, we’ve been waiting for this institutional money for a long time but a lot of hurdles have been on the way. The chances of this happening between now and April are slim.
Meanwhile, the price of Bitcoin has been recovering slowly but steadily for some time now. Yesterday, the price of Bitcoin surged above the $4,000, $4,050, and $4,080 resistance levels. It was unable to move past the resistance at $4,100 but the Bitcoin bull run isn’t over yet. There is still a chance that the price of BTC will cross $4,100 short-term.
At the time of writing, Bitcoin (BTC) was trading at $4,076.58. This means that it is up by 0.52% against the USD but it is losing its momentum. The trading volume over a 24 hour period is $10,077,600,830 and the market capitalization is $71,805,804,598 according to CoinMarketcap.com.
What do you think? Is Bitcoin dead or will Bitcoin recover to the $28,000 level by April? Share your comments below.