BTC is trading sideways - what do analysts expect?

BTC rate - what direction will it take?

Bitcoin is currently trading in the region of 11 390 USD per coin. Since Saturday, its rate has shown low volatility, moving within a narrow price range. The cryptocurrency has climbed above 11 500 USD several times before dropping slightly below this line.

There was quite a lot of optimism among Bitcoin investors. Yesterday the anxiety and greed indicator suggested that they were showing greed, today emotions have subsided a bit.

source: alternative.me

Bitcoin will never drop below 11 000 USD again - is that possible?

This was the assumption made by Tomothy Peterson, writing on Twitter that there is a 90% chance that this will happen. However, it is worth approaching this opinion with a distance, because the oldest cryptocurrency has surprised us more than once with its unexpected moves.

It should be mentioned that in 2017 this analyst developed a model that has so far proved to be more or less accurate. Peterson can boast of successfully predicting the price levels with which Bitcoin has ended the last two years. Let us recall that in 2018 he assumed that on December 31 the BTC rate would be USD 3,500 - the price of this cryptocurrency was then USD 3,782. It was similar in the following year, when he announced that the session would close at USD 7,000 - this forecast was also close to the real rate that BTC reached then, which was USD 7,243.