BITCOIN RATE: HOPE FOR FUTURE?

Image for post
Image for post

Bitcoin, the big winner of the crisis, has risen almost 85% since Jan. 1. As the price of the most famous cryptocurrency hit a critical threshold, key long-term drivers emerge. All this despite some mid-term sensitive points.

Additionally, many cryptocurrencies will soon have variations. Explore our analysis of Bitcoin and other cryptocurrencies to keep track of your investments.

BITCOIN PRICE: EXCEEDING STRATEGY

Bitcoin has started a strong new upside move in recent weeks, from almost $ 10,000 in early September to over $ 13,000 by the end of October, meaning the price has almost doubled (+ 85%). as of January 1. For its part, gold rose almost 26% while the Dow Jones and equities in general remained negative or almost zero.

As liquidity pumps have largely slowed and many assets stalled due to lack of visibility, Bitcoin is doing better.

Bitcoin price at a psychological and historical level

These prices are strategic for Bitcoin. We arrive at resistance of $ 13,150 / $ 13,200 which was first tested in 2019. First, the fact that Bitcoin appears to permanently insert itself above $ 10,000 caught Bitcoin’s attention. very special in part of the market… A strategic threshold for a new speculative bubble? A strategic threshold to trigger a wave of democratization and development?

Bitcoin is a very young asset, which could account for its relatively high volatility. The connection to economic fundamentals tends to show that Bitcoin is between stocks and precious metals. It follows both the logic of security research and innovation research. The fact that Bitcoin is taking a pivotal position in the financial landscape also reinforces its dependence on short-term liquidity logic. This bullish movement, in the midst of an extremely difficult period, creates an interesting long-term momentum.

Ultimately, Bitcoin is distinguished by the presence of a gradually limited supply. If we add a form of Bitcoin hoarding to dealers and maintain (or even increase) demand, this only reaffirms the security and creativity of the cryptocurrency. Bitcoin’s recent rise has been carried out amid relatively high buying volumes. Because of this increase, the trading volume tends to decrease, which may indicate a safety concern of previous buyers. All this while the classical monetary system is threatened by hyper-scaling policies.

A decentralized finance platform that make use of clever strategy to help you earn good rewards with your cryptocurrency

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store