As Bitcoin Reclaims $49K Level, Here's What These 4 Analysts And Traders Are Saying Are Saying

As Bitcoin BTC/USD reclaimed the $49,000 level Tuesday evening, here’s what four analysts and expert traders are saying about the largest cryptocurrency by market capitalization.

What Happened: Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his 536,000 followers on Twitter that while the first breakthrough has happened on Bitcoin, another breakthrough in a range of $50,500 and $51500 must happen for the cryptocurrency's move to be considered as bullish.

He believes that 2022 will be a great year for Bitcoin.

Justin Bennett, a cryptocurrency analyst and trader who has more than 95,000 followers on Twitter, noted that while Bitcoin has rebounded a little, it is still a sideways market.

He feels that the apex cryptocurrency must rise to the range between $50,000 and $53,000 for it to be considered a bull market.

See Also: How To Buy Bitcoin (BTC)

Cryptocurrency analyst Benjamin Cowen said that Bitcoin did not have a "blow-off top" in the fourth quarter and is trading in line with the idea of lengthening market cycles. He remains bullish on Bitcoin for the next year.

Pseudonymous analyst Smart Contracter told his 198,000 followers on Twitter that a wedge breakout is underway on Bitcoin, based on the downward converging trend lines.

Price Action: Bitcoin is up almost 1% during the last 24 hours, trading at $49,242.49 at press time.

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