Bitcoin reached a new high for the year at 9,700 USD
Home News Bitcoin reached a new high for the year at 9,700 USD
Marcus Misiak –
Bitcoin has reached a new all-time high for the year and increased in the last few hours to more than 9,700 USD, after which the next resistance of 9,400 USD has been exceeded.
BTC is at the time of writing in 9.728 USD, an increase of 4,62% in the last 24 hours. Crypto-analysts predict that FOMO (fear of missing) could occur if Bitcoin can climb over $10,000. Tom Lee, co-founder of the Fund, entered Global Advisors, said a few days ago to CNBC:
I think Bitcoin is, ultimately, a reserve currency in crypto. Bitcoin with USD 9,000 was only in 4% of its history at this level. We are deep into a bull market and the people are pretty quiet about it. I think Bitcoin will easily reach its all-time highs.
According to Lee, the previous cycles of the market of Bitcoin suggest that, if BTC can reach $ 10,000 USD, it will rise for a period of five months, to 40,000 USD. Lee supports his statement that the Bitcoin market has always been cyclical. During the ten-year history of BTC investors have determined that the asset is mostly clear Patterns and cycles that are influenced by time and certain technical indicators.
As Filb Filb, a prominent crypto-currency analyst, believes that a BTC of $ 100,000 and more is possible noticed, A is the Moving Average Convergence Divergence (MACD) on bitcoin month Chart is an extremely interest-rate bull experience of Crossover. More precisely, the indicator is intended to monitor cross-cutting Trends, shortly before his third monthly interest bullish Cross in the history of Bitcoin.
The last Time this was observed was when BTC started its bull run from the low three digits (300 USD) to 20,000 USD. While short-term MACD values are often susceptible to so-called “Fake Outs” (Fake Breakout), the one-month MACD is a solid indicator of long term price actions. It is important to note that the MACD has not yet been transferred to the green area, but should, if Bitcoin manages to close June strong. Filb Filb via Bitcoinis said:
The last Time we saw such a convergence of the monthly MACD, it increased the Bitcoin price is $9232,72 +0,33% in the following 600 days, 5.400% – from $355 to be ATH at 20,000 USD. If we take this percentage growth, and the current price of Bitcoin at 9.350 $ (at the time of creation) to apply, there is an approximate peak of 52,000 USD to February 2021.
However, the MACD is not in the One-month Chart the only bullish sign, which has experienced Bitcoin lately. In a recent Tweet, the prominent Analyst Josh Rager, has become known in the midst of the crypto bear market in the year 2018 noticed that bitcoin weekly Chart is currently a massive “bullish engulfing candle” experienced. Rager claims that this pattern, which includes a strong Pullback (black candle) and a subsequent bullish reversal (devouring white candle), that is, to what “a continuing trend in the last bull cycle-up has led to”. The fact that BTC looks like this now, is for Rager a sign that Bitcoin will see in the coming weeks and months, “new highs for the Year”.
While Bitcoin can currently experiencing strong gains, writes the majority of the Altcoins significant losses. A popular crypto-analyst says that the Altcoin market could have a rocky journey ahead of you, if Bitcoin continues to rise. Crypto Dog explained to his 143.000 followers that he expects the bull of the Trend of Bitcoin, the Altcoins short-term turbulence could experience.
Featured Image: Iaremenko Sergii | Shutterstock