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Clem Chambers, market analyst and CEO of global financial tracker ADVFN, believes Bitcoin has already bottomed out. In a new article for Forbes, Chambers says Bitcoin is "the new gold" and overrides the long crypto winter.
"Last year I said," It's going down, hopefully to about $ 2,500. "$ 3,000." Bitcoin is now rising and I'll say, "It's going up." "I think it will soon reach $ 6,000 and $ 1
Chambers cites Bitcoin speculation in China and the rise of BTC as two key factors.
"There seems to be great interest in crypto in China at the moment, selling tether at a premium. This is useful if the market takes into account a devaluation of the yuan in the cards. The hold has been proven to be resilient, even if it is still a controversial coin. It is still a good place to keep capital short-term, be it from bitcoin volatility or Fiat austerity …
Gold is the global asset to hedge against risks, and the Investors are very interested. It is a mainstream asset that represents stocks and other assets in the memory of the man on the street as an "investment".
If you drill down into mindshare, if you see interest in the financial news, you can See how Bitcoin eats in the interest in gold, at least in the US.
Meanwhile, crypto trader and analyst Tone Vays is far less optimistic about BTC's near-term price. According to Vays, Bitcoin could fall to $ 3K or less this year.
The crypto markets are currently mixed. Bitcoin jumped 0.88% to $ 5,220. Ethereum fell 0.08% to $ 166.05, and the RFA 3.1% to $ 0.3341.
Technical analysts are split over the short-term prospects for Bitcoin and track the key resistance values for Ethereum, XRP and Litecoin
Blockonomi – Short-term outbreak after below likely
Coin speaker – BTC continues medium-term sideways movement
Bitcoin targets new highs above $ 5,500
FXStreet – ETH fights below $ 200, supported at 200 EMA
CryptoGlobe – Ethereum in bullish trend, resistance expected at $ 170
NewsBTC – XRP price nears key resistance
Stability at $ 0.3400
 05] Crypto Daily – LTC / USD faces $ 83.71 in technical resistance
FXStreet – LTC / USD bull-drop on flagging Follow us on Twitter
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