On the night of February 16, the average cost of bitcoin reached $ 10,324. Then the price went down, and now the currency is trading at $ 10,500. In the last two weeks, bitcoin has risen in price by $ 4000 – by about 60%.
Analysts are optimistic: if bitcoin can stay at $ 10,000, then soon the price will start to rise and we will see the price of bitcoin at around $ 12,000.
Optimism in the community is also inspired by the predictions from the end of January that the bull market will come after the celebration of the Chinese New Year, which began to celebrate today. The analysis of previous years confirms this.
We see that since 2015, a clear model has been established, when bitcoin falls in January, and in February there is already a price increase.
However, specialists in technical analysis are not so happy: if bitcoin can not gain a foothold of $ 10,000, then we will see a price decline below $ 7,000.
Recall that in January 2018 most cryptocurrencies decreased in value, and the total market capitalization fell to $ 279 billion. The situation began to improve after the meeting of the US Senate, at which financial regulators discussed trends in the cryptocurrency market and concluded that at the moment the industry does not need strict control or restriction by the government. After that, most coins began to grow in price – the total capitalization of the market doubled and at the moment is $ 500 billion.
Write: Richard Abermann