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The post Analyst Predicts Bitcoin (BTC) Price to Hit This Level By May – Right Time To Buy The Dip? appeared first on Coinpedia Fintech News

At the time of publication, the price of bitcoin remained relatively stable at roughly $23,100. The number of positive predictions for the cryptocurrency that is considered to be the king of cryptocurrencies is growing.

Bitcoin to Hit $50k by May

Aaron Arnold, a crypto analyst and the founder of the YouTube channel dedicated to the cryptocurrency space known as Altcoin Daily, recently had a conversation with Bitcoin tech analyst Carl Runefelt, who said that Bitcoin now has a clear bullish divergence. 

Runefelt has expressed his strong belief that it is feasible for BTC to reach 50,000 over the next four months, despite the fact that this could seem a little bit odd to some people.

The analyst says Bitcoin will hit $26,000 to $30,000 in February, $33,000 to $37,000 in March, $39,000 to $43,000 in April, and definitely $50,000 by the end of May. And while Runefelt seems quite sure of his prediction, it would seem that the comment section does not agree with him. 

A significant number of people are emphasizing the fact that his forecasts are never accurate. For example, he anticipated that Bitcoin would be worth $300,000 in 2022, but instead, the token fell to $14,000. 

Some even went so far as to compare him to Jim Cramer, claiming that whatever he forecasts for Bitcoin, the token will move in the opposite way. For instance, if he claims that Bitcoin will reach $50,000, then it is possible that BTC could fall to $20,000 in value.

If Bitcoin manages to break out of its current trading range and close over $23,250, it might trigger a new wave of buying. Under these conditions, it’s possible that the price would climb to about $23,650. The $24,000 mark may represent the next point of difficulty. Continuing the current upward trend would push Bitcoin’s price to the $25,000 area.