Popular analyst Alan Masters claimed that the Bitcoin price will rise to $ 30,000 by May 2022. According to the analyst, he said that if the historical price activity of Bitcoin continues in the same way this time, we will witness that the Bitcoin price will rise even more by 2022.
Sharing Bitcoin and cryptocurrency analysis on TradingView, Alan Masters suggested that the Bitcoin price will continue to rise to $ 30,000 in May 2022. Supporting his forecast with the RSI indicator, the analyst stated that the Bitcoin RSI value rose above 80 for the first time since December 2017. Bitcoin, which is in the overbought zone, gives a bullish signal, according to Alan Masters.
The current situation of Bitcoin is quite different
“Bitcoin continued to gain over 550 days when it first saw a big increase relative to the weekly RSI indicator. If we take a similar move to the previous situation, starting from November 2020, we can say that the prices will gradually increase until May 2022. ”
The analyst underlined that there was a lot of FOMO and hype when Bitcoin last rallied, but that is still the current situation. The analyst pointed out that large institutions and governments are buying large numbers of Bitcoins and said there is no reason to sell it in such a situation. According to Masters, the long-term purchase of Bitcoin is a harbinger of big things going on.
According to the report of Bitcoinist’s Yashua Gola, factors such as Kovid-19, the monetary policies of central banks and the fall of the US dollar were the main factors that enabled investors to turn to other investment opportunities such as Bitcoin.
Alan Masters concluded his analysis with the following words:
“The bitcoin price may seem low now, but in the coming years we can see 30 thousand, 50 thousand, 80 thousand dollars or more. Of course, time will tell. But we know that Bitcoin is always increasing 10 times. I remember, it seemed impossible for Bitcoin to reach $ 3,000. But BTC surprised us all and managed to surpass $ 20,000. That’s why the current situation could be just the beginning for Bitcoin. ”
Another analyst pointed to “December 2020” for 30 thousand dollars.
Popular analyst NebraskanGooner said that the Bitcoin price will rise to $ 30,000 in December 2020, recalling a Bitcoin analysis he made in April 2019. The analyst made this comment by looking at Bitcoin’s past price volatility and trend lines.