Did Bitcoin finally overcome the crisis?
The largest cryptocurrency of the modern market unexpectedly rose in price. Literally in 5 hours of tonight, a coin went up by $400. In percentage terms, the currency grew by 1.24%. Thus, Bitcoin approached the mark of $8,000 apiece. Even taking into account the fact that now the cryptocurrency has fallen somewhat, the course appreciation is a significant event. In this article, we will discuss all the prospects of Bitcoin and explain why price growth is starting a bright future for the crypto industry.
What experts say
As you know, cryptocurrency pricing is a complex and multifaceted process. The most experienced users of the industry are suitable for analysis and forecasting the cost. Experts noted that at the moment, the position of Bitcoin is quite stable. In their opinion, the chart now demonstrates a well-known position “head and shoulders”, but in reverse. The famous crypto trader Big Cheds has no doubt that the price of the cryptocurrency will go up if the chart does not fall below $7,600 for a few more days.
Such stability, purely logical, is unlikely, but so far, Bitcoin is confident. At the time of writing, BTC was worth $7825 per coin (and continued to increase in price). Cryptocurrency capitalization – 133, 433 billion dollars. Thus, based on the current market trend, there is every reason to believe that Bitcoin will soon break the $8,000 mark. Hard times will come after this momentous event, as the coin will stumble on resistance levels.
It has long been known that it is difficult for any coin to overcome the round number, which is why experts are confident that Bitcoin will have difficulties at $9,000 and $10,000. However, a miracle is still possible. Even when taking into account a downtrend, cryptocurrency can turn around at any time and go up sharply. Analysts believe that a real “bullish” reversal will occur after overcoming the mark of 7870 dollars.
We already saw a similar picture in 2017, when the price tag of Bitcoin increased exponentially. The market continues to move in a wave, so that even the most unfortunate situation will come favorable conditions for productive trading. We can only wait.
According to the most daring estimates of specialists, by the middle of this year, the first cryptocurrency will significantly increase in price. The industry still believes that by the end of 2020, the cost of Bitcoin will be at around $20,000. Everything points to just that.
What to do with Bitcoin?
Selling all the savings is definitely not worth it. Hold on to stocks until better times. It is pointless to speculate now, since aggressive growth rates can instantly stop. Of course, you can put up a small percentage of equity for bidding, but serious profits should not be expected. Now it’s better to wait until the coin has finally decided on the direction of development. If the price starts to fall, buy cryptocurrency, but if the price rises significantly, sell a few coins. Everything is simple.
We will inform you about key changes in the price of Bitcoin and other significant events of the crypto industry. Follow all the news with us, we publish only high-quality and relevant material. Thanks for attention. We wish you good luck and successful work!