• George Tung, an expert in cryptocurrencies and a popular YouTuber, has predicted that the price of Bitcoin would skyrocket by 150% in the next three to four months.
• Technical analysis suggests that Bitcoin bulls are aiming to take control of the market and that a significant pump may occur before July.
• Moving averages indicate that the route of least resistance is upwards and Bitcoin may reach $25,000 if it moves higher from where it is currently trading at $23,400.

Bitcoin Bulls On Fire: Analyst Predicts Massive Price Pump Before July

Prediction for 150% Increase

George Tung, an expert in cryptocurrencies and a popular YouTuber, has forecasted that the price of Bitcoin would skyrocket by 150% in the next three to four months, taking it to a total of $50,000. This prediction comes as industry professionals compare Bitcoin’s current performance this year to 2019 when its price rose from $3,600 to $14,000 over a few short months.

Technical Analysis Indicates Bullish Dominance

The fact that Bitcoin was able to recover after hitting the $22,800 support level on February 1 indicates that bulls are buying declines at this level. The 20-day exponential moving average is currently at $22 279 and a break below this point could be an indicator of weakness in the market causing stops for short-term traders to be triggered resulting in a fall down to $21 480.

RSI Suggests Route Of Least Resistance Is Upwards

Relative strength index (RSI) suggests that the route of least resistance is upwards with moving averages climbing higher and RSI being overbought. If Bitcoin moves higher from where it is now trading at $23 400 then it may reach up to $25 000 which could act as a formidable obstacle.

Crypto Enthusiasts‘ Take On Market Conditions For Bitcoin

As crypto enthusiasts debate whether or not we will see prices reaching up towards $25 000 or if there will be roadblocks along the way before July only time will tell what happens next with these digital assets!