قالب وردپرس درنا توس
Home / Business / If history rhymes, Bitcoin could trade around $ 12,000 by the end of July

If history rhymes, Bitcoin could trade around $ 12,000 by the end of July



Bitcoin (BTC) and the general crypto markets have increased in recent months and exerted considerable buying pressure, which has enabled them to significantly surpass their lows of 2018, which were largely reached in December of last year.

Now analysts are finding that Bitcoin may soon rise on historical analysis, meaning that BTC could trade $ 12,000 by the end of July.

Bitcoin rises to $ 8,800 as bulls bow to their strength [19659004]

At the time of writing, bitcoin rose nearly 5% at a current price of just under $ 8,800, well above the daily lows of $ 8,380.

BTC faces massive buying pressure last week This has resulted in the price rising from a low of $ 7,600 to the current price level.

This move is a sign of strength for the Cryptocurring Cops, which can ultimately help guide the cryptocurrency into the next parable run, allowing it to be on its way to or even beyond the previously set all-time highs.

Flood, a popular cryptocurrency analyst on Twitter, recently told his nearly 70,000 followers that a crucial break above $ 8,000 will mean a massive breakout.

"No carpet pulls more to Bitcoin, just magical carpet rides … We're about to leave the area (8450-6800). Everything over 8,800 signals a massive outbreak and the liquidation of those with over 20x leverage, most likely causing a cascading wick, "he said in a recent tweet.

Analyst: If history repeats, BTC may soon reach $ 12,000

] Flood is not alone in its bullish assessment of the cryptocurrency, as other prominent analysts quickly realize that strengthening fundamentals and technical data could allow Bitcoin to significantly extend its current upward momentum.

is a notable similarity between BTC's price action in April 2018 and the current price action, suggesting that the price action will rise to $ 12,000 in the coming weeks.

"Comparison of price action in April 2018 and today's price action in June 2019 price action. The second picture shows how the price is currently developing by 2.5 times in%, and how long it takes to do so. This would bring BTC to around $ 12,000 by the end of July, "he explained, referring to the graphs below.

As the month of June continues and the Bulls of Bitcoin continue to show their strength, so it is It is not unreasonable to assume that the crypto will soon break into the five-digit price range that could trigger the next massive bull run.

  Selected image from Shutterstock. 




Source link