Bitcoin's Next Stop: $ 23.000!

Bitcoin's Next Stop: $ 23.000!

More data is emerging that suggests the price will shift to an upward trend as the Bitcoin mining prize halfback nears in May, according to analysts. The latest shared analysis suggests the leading cryptocurrency will rise calmly throughout the year, breaking its all-time record at the end of the year. Bitcoin chart analyst Bitcoin Jack examined a number of indicators about weekly closing prices with a share on Twitter, all pointing to an impending bull run. The graph shared by the analyst examines the current market's moving averages and Fibonacci sequences and compares them with similar data from the 2013-2017 bull run. We see that there is a clear parallel in most of the data. So if these indicators continue, we can express that we expect the price of Bitcoin to rise at least over the next twelve months. However, Bitcoin Jack notes that it does not expect a rapid rise in the price of the leading cryptocurrency. Rather, it suggests that Bitcoin will rise steadily, as it did in its last bull run, which lasted until early 2018. So if the steady rise continues, the price of Bitcoin could once again break the all-time record within this year. Price growth supported half the Bitcoin block prize remains the dominant topic in discussions of potential price movements. The halfback will reduce the number of new Bitcoins entering the market by 900 on a day-by-day basis. For this reason, even if demand stays the same, the price will rise because supply will fall. In addition, there are different indicators that support Bitcoin's price growth. For example, after weeks of decline, Bitcoin's network activity is rising once again. This increase coincides with a recovery in prices, which suggests investors are becoming more active. On the other hand, the noticeable increase in the adoption of Blockchain technology also supports Bitcoin's price growth. However, the CEO of deVere Group also stated that Bitcoin would become more attractive.