Bitcoin analysts and long-time traders including Tone Vays and Squeeze have reaffirmed their short-term interim targets of $5,000. Squeeze further emphasized that if the current upward momentum of bitcoin can be sustained over the next few days, it is likely that bitcoin will achieve a new all-time high price in the region of $6,000 within the next month.
Tuur Demeester, another prominent bitcoin trader and investor, also noted that the bitcoin price is breaking its resistance level and if trading volume in South Korea, Japan, Europe and the US hold up, a strong rally in the near future could be expected.