Rose to prominence after the global economic recession of 2008, bitcoin, is standing at $5943 at press time, after showing a 4.12% increase in its price during the past 24 hours. With bitcoin showing a major bullish trend over the past month, everyone is now wondering where the asset will end up from here on, both short-term & long-term.
Peter Brandt, who is one of the well-renowned commodity traders, recently tweeted the asset short-term price prediction as:
Just an opinion — there is a chance $BTC is topping here, having met its price target at key resistance. A correction could occur before another move toward 6500, then a more significant correction.