Analysts See Bullish Signs for Bitcoin, Predict No Return Below $35K and Possible Run to $524K Within 4 Years
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Willy Woo says an on-chain Bitcoin metric indicating BTC flowing off exchanges (buying pressure) is flashing similarly bullish patterns as at last year's market bottom
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Fellow analyst PlanB sees Bitcoin's increasing mining difficulty and hash rate as bullish signs that BTC likely won't drop below $35,000 again
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PlanB believes Bitcoin could reach $524,000 within 4 years based on historical price performance around Bitcoin's 4-year halving cycles
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PlanB doesn't expect Bitcoin to trade below $40,000 for long
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Bitcoin is currently trading around $37,694, down slightly over the last 24 hours