Bitcoin is seriously rallying, turning investors bullish on the top cryptocurrency once again. Bitcoin almost touched the value of 9,000$ per one unit in May 2019, which is at the same time the best performance that BTC had in months.
This is especially the case looking back on the rough and stubborn price cuts from November 2018 when the infamous “crypto winter” begun.
Will Bitcoin continue to rise and can BTC touch the price of 9,000$ in the following period, potentially going beyond the initial price?
Bitcoin (BTC) Near 9,000$: Will Bitcoin Continue to Rise?
The current RSI for the top cryptocurrency is “overbought” as Bitcoin almost had a 70% bull run in the past several weeks during May 2019, recording perhaps the greatest jump since 2017.
Based on the current performance of BTC that sank to 8,723$ per unit with the latest closing, analysts suggest that Bitcoin may drop below 6,000$ once again after the crypt touches 9,000$.
Afterward, the top crypto is predicted to rise back up towards 8,000$, eventually reaching new highs above 11,000$ in June and July. According to Long Forecast, Bitcoin may end the year at the price of 14,000$ in 2019.
Bitcoin Going Through Slight Price Corrections: BTC to Hit 9,000$ by the End of May 2019
After collecting almost 70% of gains in the recent weeks, BTC had seen slight price corrections with the latest drop. However, analysts indicate that Bitcoin should not go below 8,000$ in May.
It is more likely to see the top crypto reaching 9,000$ and trading above the initial price by the end of May 2019 and the beginning of June based on the recent BTC performance.
Bitcoin Not the Only Crypto on the Rise
Bitcoin jumped by 10% for the seven-day period, however, BTC isn’t the only crypto on the rise, even though it is considered that Bitcoin is leading the bull run.
Driven by a positive momentum in the market, EOS (EOS) jumped by 28% in the last 7 days, XRP touched 8%, Ethereum (ETH) went bullish by 7.45, while most top traded currencies are going up.