Bitcoin remained largely steady in the mid-$6,000s for most of this week but failed to punch through levels above $6,900. Analysts, such as Cointelegraph’s Michaël van de Poppe, have warned BTC isn’t in any bullish market right now, even as global stock markets show signs of a slight recovery. According to Glassnode, Bitcoin holders appear to be withdrawing their funds — with exchange balances at their lowest level in about eight months. On Wednesday, a “death cross” emerged that suggests BTC will struggle to return to five figures before May. Even though BTC might end up trading sideways between $6,000 and $8,000 for some time yet, a poll of “VIP” Kraken users suggests most traders think the world’s biggest cryptocurrency will hit all-time highs before 2021. The survey found that the average BTC price target for this year is $22,866.
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Source: Cryptocurrency - investing.com
