Analyst Foresees Bitcoin Hitting $50K, Cardano at $11

• Ben Armstrong predicts Bitcoin will reach $50,000 after rebounding from $40,000 support.
• Armstrong highlights Bitcoin’s consistent support level, with recent surge past $49,000.
• Armstrong echoes analyst’s prediction of Cardano potentially rising to $7 or $11.

Ben Armstrong, a crypto influencer from the United States, has forecasted that Bitcoin will surge to $50,000 following the leading cryptocurrency’s rebound from a crucial support level. In a new video, the well-known cryptocurrency expert disclosed that BTC has rebounded from this specific level for the third occasion.

In the footage uploaded to his YouTube channel, Armstrong demonstrated that the Bitcoin price area of $40,000 has consistently acted as a solid support level. Despite the most recent rebound being somewhat different from the last two, Armstrong verified that its impact was comparable. He clarified that minor discrepancies in cryptocurrency values are due to inconsistencies among different cryptocurrency trading platforms.

Armstrong observed and then pointed out that a subsequent rebound in the same area corroborates his enduring forecast that Bitcoin would surge to $50,000. The cryptocurrency expert demonstrated on the Bitcoin graph that the initial rebound from the support level propelled Bitcoin past $44,400. Following a retracement, the price experienced another rebound, which resulted in a surge past $49,000. Consequently, he is of the opinion that the most recent rebound will elevate BTC beyond $50,000.

Armstrong was optimistic about Bitcoin reaching $50,000, but he also acknowledged the chance that it could fall back to its current support level. Consequently, he recommended that viewers should consider realizing some gains if the anticipated price surge occurs.

In addition to Bitcoin, Armstrong referenced a leading analyst’s forecast that Cardano’s price would increase to $7. He mentioned that Ali Martinez, who is highly recognized in the cryptocurrency space, has set a $7 price goal for Cardano, noting that the alternative cryptocurrency has been following its 2020 pattern. Nonetheless, Armstrong’s own evaluation led him to project that the primary blockchain currency would reach $11.