Bitcoin price could rise to $ 8,000 amid oil forecast to drop to $ 10
Bitcoin (BTC) is attempting to reverse the resistance of $ 7,000 into support on April 3 amid oil prices expected to return to $ 10 a barrel this month.
Oil may be at $ 10 in the second quarter
Data from Coin360 and Cointelegraph Markets shows that the Bicoin bull tried to push the market above the $ 7,000 mark on Thursday and Friday.
At the time of writing, all that effort was unable to regain support, with the BTC / USD pair repeatedly falling back to the high range of $ 6,000.
Bitcoin rose higher early on Thursday, as some experts predicted by the time the oil price war was over, which led US President Donald Trump to predict the price of a barrel of oil. maybe only $ 9.
Mr. Trump's latest comments on an agreement pushed the oil market soaring. Yesterday, Brent oil surged 30% in the hours before the Russian statements were in stark contrast to the upbeat tone.
Speaking with CNBC, Victor Shum - vice president of energy consultancy at insight supplier IHS Markit, warned that a drop in oil prices to $ 10 is still definitely a possibility in April.
"We expect Brent oil to drop to around $ 10 a barrel by April and likely to stay there throughout the second quarter," he said.
“There is very little chance for OPEC + to reach a deal that could save the crude oil market from COVID-19 attacks. I think any negotiation of big injuries is probably too little, too late. ”
Filbfilb: The Bitcoin bull faction is very strong
Meanwhile, for Bitcoin, prudent traders have now been making more optimistic short-term forecasts.
In a message to those who subscribe to their Telegram trading channel, CoinTelegraph's filbfilb analyst looked at the possibility of climbing to $ 8,000 as a next step for the king.
"The bulls seem to be very strong right now," he wrote.
"Assuming the closing date is the same as now, I support the bulls to run for $ 8,000."
At the current price of $ 6,9000, BTC is only about $ 300 lower than the level at the beginning of 2020, which means Bitcoin has reduced its annual loss to only 4.3%.
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According to CoinTelegraph
Translated by ToiYeuBitcoin
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