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.

The first breakthrough has happened on #Bitcoin.

But, we still need to break enough levels to state that we're bullish.

Overall, a breakthrough at $50.5-51.5K and I'm convinced.

Also, 2022 should become a great year overall.

— Michaël van de Poppe (@CryptoMichNL) December 21, 2021

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.

A little bounce from $BTC today, but it's still a sideways market.

Has to get above $50k and $53k to convince me otherwise.

Until then, I'll continue to eye the $42k area, as explained in yesterday's video.#Bitcoin video https://t.co/WQGMf9UukR pic.twitter.com/58geoBX7KI

— Justin Bennett (@JustinBennettFX) December 21, 2021

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.

#Bitcoin not having a blow-off top in Q4 2021 is more or less the expectation, in line with the idea that the market cycles lengthen.

The fact that people are fearful at a <$50k #Bitcoin only makes me more bullish for 2022. pic.twitter.com/HohEEXkY6N

— Benjamin Cowen (@intocryptoverse) December 21, 2021

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.

wedge breakout underway on #btc, bring on the santa rally and end this god forsaken chop pic.twitter.com/JaCHuVFL0u

— Bluntz (@SmartContracter) December 21, 2021

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

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