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Why Bitcoin can only go up from here



The Bitcoin price reached a new ATH this year, reaching $ 5,600. The next stop seems to be $ 6,000. HODLer dare to dream … But let's keep a small perspective. All major coins are still far from their all-time highs (19459010, very ). That could be important in itself. Finally, the jump can only be higher.


There is only one way from here

Do you want the good or the bad news first? Let's start with the evil.

Despite the breakthrough in important resistance levels and the formation of its first golden cross since the 201

5 low, Bitcoin (BTC) has still dropped 72 percent from its all-time high in December 2017. [19659004] Ether (ETH) is a whopping 88 percent and Ripple 90 percent worse. Let's not start with Bitcoin Cash … They forked quite hard in November last year and are currently down 92 percent from historic highs.

Other old coins also have difficulties, namely:

  • XRP: – 90%
  • EOS – 76%
  • LTC: – 78%
  • ADA: – 93%
  • XLM: – 87%
  • TRX: – 89%
  • XMR: – 87%
  • DASH: – 91%
  • MIOTA: – 94%
  • NEO: – 94%
  • OMG: – 92% [19659017] So, what's the good news then? Why are dealers and HODLers so excited around the world? Well, market analyst The Rhythm Trader rightly notes … with such statistics we can only go on from here.

    Bitcoin is Better Placed for a Bull Run than 2017

    From the muted encouragement that things can only get better, there are a lot of other reasons why BTC looks rosy. Unlike the last epic bull run, the price of bitcoin has been steadily rising since 2017.

    There is now much better fundamentals in terms of increasing transactions, usage and hash rates. More scams and sh ** coins have been flushed out, there are more flat ramps, proven use cases and more.

    Bitcoin scaled this time, has received considerable institutional support and has already proven $ 20,000 is a realistic target.

    Meanwhile, we all have to remember that more than 80 percent of the total 21 million bitcoin has already been mined. Halving, which will reduce the selling pressure on the market, is now less than 400 days away.

    Industry Insiders Demand Parabolic Growth

    We've all heard the predictions of John McAfee – and what would he do if he did? He's wrong. But there are many other key players who are equally (if not more) optimistic about Bitcoin.

     Cryptocurrencies undergo transformation - they become part of our daily lives. We can now buy things with Bitcoin, meaning that the mainstream designation

    Yesterday, Anthony Pompliano of Morgan Creek Digital has made a staggering statement. This Bitcoin could become a fortune of $ 5 trillion by 2024. This is based on the argument that Bitcoin is the only asset under $ 1 trillion that can reach 50 times over a five-year period.

    So, yes The fact remains that Bitcoin still has a long way to go to restore its previous values ​​before piercing them. But if the tailwind blows strong, it can only continue to rise from here.

    Will Bitcoin continue its upward trend? Share your opinion in the comments below!


    Pictures via Shutterstock


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