Bitcoin [BTC] has struggled to hold on to earlier attempts to gain a position above $4,000. Yesterday, bitcoin [BTC] rallied to just above the psychological barrier with a 4% rise within 24 hours. The trading volume topped $11 billion, the highest since last April when the bitcoin price was trading at over $8,000.
Experts in the cryto space predicts that the bitcoin bull run will happen once the Bitcoin [BTC] price touches $4,600 and the much anticipated market boom is expected to happen in March. $4,600 is possibly the beginning of the Bitcoin bull rally.
A prominent cryptocurrency anlyst and trader, DonAlt shared in an interview that bitcoin bull rally will begin when the price reaches $4,600. He explained that the recent rise in the price of Bitcoin and Ethereum brought hope in crypto space and crypto investors.
He further explained that the first generation cryptocurrency has to break the $4,600 and go up to $5,000 and $6,000 further. Bitcoin winter still continues till the price reaches $4,600. If it breaks the point, crypto analysts can confirm that the 15-month old bear market is ended.
He also mentioned that the rise in the price of Ethereum has blessed the market and brought back optimism in cryptocurrency.
he further added.
Tom Lee of Fundstrat has claimed August could see Bitcoin move from crypto winter to crypto spring.
He added that he believes that bitcoin will rebound in the next “five to six months” before the digital asset “starts to look technically like it’s back in a bull market.”
Lee pointed out that last year Bitcoin Cash’s combative hard fork of late last year is the reason behind Bitcoin price plunge down from $6,000 to $3,100.