• Bitcoin YouTuber and influencer Ben Armstrong has predicted that Bitcoin will experience a run up to $25,000 or $30,000 in the next 10-15 weeks.
• Bitcoin’s recent positive momentum has caused the cryptocurrency to trade above its 200-day moving average.
• During one of Bitcoin’s bull runs, the cryptocurrency caused significant losses for bears by forcing the liquidation of short bets worth millions of dollars.
Bitcoin, the world’s largest cryptocurrency, has experienced a major surge in its price in recent weeks. This surge has been largely attributed to the positive sentiment in the crypto world, as Bitcoin recently surpassed the $18,000 and $19,000 marks on January 12th. This has led to a major sense of optimism among traders and investors, especially after the cryptocurrency had been trading in a bearish market for the majority of 2020.
Due to this newfound bullishness, Ben Armstrong, also known as BitBoy Crypto, a contentious YouTuber and influencer in the cryptocurrency world, has taken to Twitter to make a prediction about the price movement of Bitcoin this year. BitBoy believes that Bitcoin is at the beginning of a run-up that could drive the value of the cryptocurrency to $25,000 or potentially even $30,000 within the next 10 to 15 weeks. He based this prediction on the current market conditions, which appear to be quite bullish.
The recent turnaround in Bitcoin’s price has brought a dominant positive momentum, with the cryptocurrency trading above its 200-day moving average. This has given buyers reason to believe that they can purchase more Bitcoin at a lower price than its current trading value. During one of Bitcoin’s bull runs, the cryptocurrency caused significant losses for bears by forcing the liquidation of short bets worth millions of dollars. According to Coinglass, the total for liquidated shorts reached $1.3 billion in the past week.
All in all, it appears that Bitcoin is currently trading in a bullish market and is likely to experience a major surge in its price in the coming weeks. This is a sentiment that is shared by many crypto traders and investors, and it is likely that the cryptocurrency will reach the predicted $25,000 or $30,000 mark in the near future. Only time will tell if BitBoy’s prediction will come true, but it is certainly one to watch out for.