Bull Run Incoming? Bitcoin to Reach $55,000 in the Next Few Weeks

Vinod Dsouza
bitcoin btc bull run
Source: Pixabay

Bitcoin is trading in the green today as it jumped nearly 5% in the day’s trade reaching a day high of 41,886. The leading crypto bounced back from its slump last week where it dipped below the $39,000 mark. Financial analyst John Squire, partner at Ojamu, an AI & Blockchain-powered platform, spoke exclusively to Watcher Guru when the market was down, stating that Bitcoin will see a bounce back. “Do not lose your cool. Normally on Mondays Bitcoin tends to go down, and gradually it will go up again.” Squire’s prediction turned out to be accurate as BTC and the entire crypto market are now trading in green.

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Crypto analyst Altcoin Sherpa, revealed that he’s now bullish on Bitcoin and predicted BTC could touch $55,000 levels. He said to his 173,500 followers on Twitter that Bitcoin will spike in the next few weeks and cross $55,000. The analyst also predicted that the overall market will trade in green and positive sentiments could return.

However, he stopped himself after ‘Bitcoin crossing the $55,000 mark’ stating he has “no clue” where it could head next.

Source: Twitter / Altcoin Sherpa

“Some overall market thoughts on $BTC and #Altcoins. Cliffs: I still think market is going up over the next few weeks and we’re going to see 55k+ and alts will follow. After that, I have no clue.”

The crypto expert also stated that several coins are in accumulation mode and might soon see a spike in price. “I think a lot of coins are accumulating right now. They never look like it when they are doing it, but they are there and there are many coins like this.”

We will have to wait and watch if Bitcoin will touch the $55,000 mark in the next few weeks, as predicted by Altcoin Sherpa.

Bitcoin : The Up & Down Swings

Bitcoin has been trading on the back foot since the start of the year and a phenomenal spike is nowhere on the cards. The top crypto has been fluctuating between the $46,000 to $42,000 price movements for a month now.

Moreover, BTC has been dipping below the $40,000 mark frequently but is rebounding to $42,000 levels quickly.

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However, not many analysts are bullish on BTC at the moment due to various factors contributing to its price dip. Read here to know the reasons why the markets around the world are experiencing corrections.

At press time, Bitcoin was trading at $42,053 and is up +3.2% in the 24-hours day trade.