A popular crypto analyst is optimistic that Bitcoin (BTC) will recover in the coming weeks following months of falling prices.
The host of financial education YouTube channel InvestAnswers says in a new video that he expects Bitcoin price to hit $50,000 in April.
“April is historically a bumper, whether or not it is a bear or bull market…
I think the key level is that if we can break above $45,000 there is nothing but fresh air between $45,000 and $50,000 so we might very easily rally even overnight at next day a $5,000 candle to this thing.
But we hit the 45,000 level three times and it’s like a piece of glass that can’t be broken, but if we get it right, it might even happen this weekend. “
According to the analyst, Bitcoin’s adoption rate is heating up behind the scenes, even though the price has been disappointing.
He predicts that in the coming weeks, adoption will force BTC to appear, potentially triggered by the de-escalation of the war in Eastern Europe.
“I just think the world is waking up. I used to call it a money flow game, but now it’s an adoption game. If you look at all the data on the chain, everyone is snacking on it and gobbling up as much bitcoin as they can and [it] will one day become that flight to safety, but that day may have already gradually arrived, so hitting $50,000 is very likely, might even be much higher in April if we get a historic April…
Starting peace is the macro issue. It all depends on whether there is an escalation in Ukraine or if we solve this problem… If there is peace, we will exceed $50,000 in April.
At the time of writing, Bitcoin is trading for $42,236.01.
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Image en vedette : Shutterstock/dani3315
