Bitcoin (BTC) has continued to surge after incurring a massive influx of buying pressure that allowed it to smash through multiple levels of resistance that were previously seen as being critical in order for the cryptocurrency to see further gains.<\/p>\n
One prominent analyst now believes that Bitcoin\u2019s latest price surge confirms that the persisting \u201cCrypto Winter\u201d has, in fact, come to an end, and that \u201cCrypto Spring\u201d can now commence.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up nearly 14% at its current price of $4,720, up significantly from its 24-hour lows of $4,150.<\/p>\n Prior to yesterday evening\u2019s upwards surge, Bitcoin faced multiple levels of resistance<\/a> that existed at approximately $4,200 and $4,600, which had both persisted as strong resistance levels over the past couple of months.<\/p>\n Nigel Green, the CEO of the UK-based deVere Group, recently spoke to MarketWatch<\/a> about the current state of the markets, explaining that the recent upwards break confirms that the markets have found a long-term bottom, and that the so-called \u201cCrypto Winter\u201d is finally over.<\/p>\n \u201cAfter being in bear territory there is a growing sense that bitcoin is back. I\u2019m now calling that the market has bottomed and the so-called crypto winter has come to an end. I believe bitcoin will now move higher over the next few weeks and months, making steady gains for investors,\u201d he explained.<\/p><\/blockquote>\n As for where Bitcoin is heading next, one analyst is quick to point out that traders should wait to see how BTC\u2019s price action plays out in the near-future for insight into the clout this latest price move carries in the long-term.<\/p>\n Cred, a popular cryptocurrency analyst on Twitter, explained this notion in a recent tweet, saying that traders should look towards altcoins for further profits while BTC trades sideways.<\/p>\n \u201c$BTC: Rallied into monthly resistance. Rugged intraday conditions – very fast moves with long wicks make it difficult to define risk (i.e. place stop) somewhere sensible. No need to rush into a trade. Chill out, enjoy the green, and scroll through some alts,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a><\/p>\n Rallied into monthly resistance.<\/p>\n Rugged intraday conditions – very fast moves with long wicks make it difficult to define risk (i.e. place stop) somewhere sensible.<\/p>\n No need to rush into a trade.<\/p>\n Chill out, enjoy the green, and scroll through some alts. pic.twitter.com\/p8rCdrc5xf<\/a><\/p>\n — Cred (@CryptoCred) April 2, 2019<\/a><\/p><\/blockquote>\nWhere is Bitcoin Heading Next?<\/strong><\/h2>\n
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