02 April 2019 11:25, UTC

On Tuesday, April 2, the cryptocurrency market has almost unanimously entered the “green zone” — there is an obvious sharp price peak of almost all significant coins. Bitcoin grew by 12.6% per day, breaking the $4,500 mark, some exchanges report the reach of $ 5,000 levels. The capitalization of the entire crypto market has overcome the psychological threshold of $150 bln, and now it rushes to the new heights.

Cryptocurrency media and communities proclaim the bull run once again, marking the end of the bear market. Economists join them as well: a well-known trader and economist Alex KRUGER previously stated that according to the technical analysis, a breakthrough in bitcoin price above $4,200 would mark the end of a bear market which lasted for 16 months. He indicated his position on Twitter too:

That's what no resistance looks like. Nothing but hot air above 4200. The longer the wait, the harder the break. This is what technical analysis is for. $BTC +20% in 45 minutes. — Alex Krüger (@krugermacro) 2 апреля 2019 г.

Some traders stated that it is likely that Bitcoin may adjust to the range of $4200-4300 in the short term, but in the foreseeable future, a reasonable target for BTC is from 5000 to 5500 dollars.

Image courtesy of Null TX

Found a mistake? Select the text and press CTRL+ENTER

Share:

Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies