Bitcoin Trading Expert ‘The Crypto Dog’ Says $1,800 BTC and $50 ETH Wouldn’t Be Surprising

2019-2-6 19:09

Bitcoin (BTC) has been experiencing sideways trading during the last few weeks after being traded around $3,400 and $4,100 during the last months. Enthusiasts and investors in the market are waiting for the digital currency to start growing once again after the year-long bear market that affected the whole cryptocurrency market.

Due to volatility has been falling during the last weeks, there are some analysts that are currently expecting a big movement to take place. In a recent Tweet, Hsaka Trades, a recognized crypto trader in the popular social network, released a graphic in which it is possible to see that the Bitcoin historical volatility index is reaching new lows in around two months.

$BTC volatility testing a fresh demand zone.

B I G M O V E I N C O M I N G. pic.twitter.com/u1YqmSy42k

— Hsaka (@HsakaTrades) February 5, 2019

This seems to be in line with what other recognized analysts believe. The Crypto Dog mentioned that it might be possible to see a $1,800 Bitcoin and a $50 Ethereum (ETH) in the near future.

Bitcoin is currently in the longest bear-trend in history. The cryptocurrency dropped from $20,000 in December 2017 down to $3,250 in December 2018. That represents an 82% decrease in its price. Thus, following this trend and The Crypto Dog’s prediction, Bitcoin could fall under $3,000 and reach new lows in more than a year.

The Crypto Dog mentioned that he has been saying this several times in the past and that this is not new. He has also explained that Bitcoin has a small chance to reach $1,200. However, he is not so sure that the market can drop that far.

At the time or writing, Bitcoin is being traded around $3,411 and it has a market capitalization of $59.78 billion. In the last 24 hours, the digital currency dropped 1.56%, similar to what other cryptocurrencies did during the same period of time.

Remaining above $3,400 is very important for Bitcoin since dropping further could harm significantly the most popular digital asset.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Top Coin Price Watch (Feb 5th)

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