Bitcoin Price Analysis

Bitcoin price; Correction or reaching $ 30,000? Analysts respond


Following the tremendous performance of the Bitcoin price in recent days, many traders and market experts have speculated about the trend of this digital currency. Some believe that the digital currency has risen to $ 30,000, while others believe that it is a reform for the king of digital currencies.

To Report After a historic day in which news headlines could not keep up with bitcoin price fluctuations and a new record high of $ 27,000, digital currency traders and analysts are now focusing on what The last 5 days of 2020 are waiting for bitcoin.

Compared to the 42% bitcoin price gains, as in the example we saw in 2019, the 8% and 9% gains are not very high numbers. Ryan Selkis, co-founder of Messari Analytics, called the $ 2,300 digital currency candle the second example of such candles, citing the recent jump in the price of Bitcoin. He wrote on Twitter:

The first $ 2,300 bitcoin candle was seen 8.5 years after its birth, and now we see it on the charts again.

Some traders, who are likely to be happy after the climb, are looking to predict when the first 5-digit daily Bitcoin candle will form.

Luke Hodl, an active Bitcoin trader on Twitter, asked his followers in a poll to predict when the first $ 10,000 Bitcoin daily candle will be formed.

He asked his followers in a tweet:

When do you think Bitcoin will record its first $ 10,000 daily candlestick?

At the moment, everything is ready for a further increase in the price of Bitcoin. The “Bitcoin hashtag” with 164,000 tweets is by far the most popular keywords on Twitter today. The discovery of a food stall in the ruins of Pompeii, Italy, is the second most popular topic on Twitter today.

In addition, today’s market fluctuations pushed Bitcoin back in line with the popular S2F model. According to this model, the price of bitcoin will reach $ 100,000 in 2021.

Bitcoin price;  Correction or reaching $ 30,000?  Analysts respond
Google Trends data

Another criterion that many use to predict the price of bitcoin shows that public interest in bitcoin has a long way to go to reach the conditions of 2017. According to Google Trends, searches for the English word “bitcoin” are more than 80% away from their peak.

Alistair Milne, founder of the Atlanta Digital Currency Fund, wrote on his Twitter page:

Google Trends data show that the number of searches related to bitcoin purchases is about one-fifth of its historical ceiling. Will the search volume eventually reach 10 times its historical ceiling? This process has already begun.

As Bitcoin’s uptrend intensifies, more traders are predicting that by the end of this year, we will see $ 30,000.

Rising market conditions have pushed the price of bitcoin to a point where even rockets and shuttles launched from NASA’s Cape Canaveral base are out of reach. Some traders are considering possible short-term bitcoin terms. One trader predicts a bitcoin downside in the next two weeks.

Crypto Leo, one of the most active digital currency traders on Twitter, said:

Strong uptrend for anyone who has taken a long position. I’m excited to see how the trend is changing. The next downtrend is likely to be like this. I am patiently waiting for the next trend to see what it will look like.

Bitcoin price;  Correction or reaching $ 30,000?  Analysts respond
Bitcoin price chart

Crypto Leo, priced at $ 26,500, wrote:

This process stops completely at the weekend. I think that [کندل] The hammer will appear on the chart for the next 2 weeks.

Bitcoin price;  Correction or reaching $ 30,000?  Analysts respond
Bitcoin price chart

Although the trader disagrees with the majority, he is not the only one predicting turmoil in the bitcoin market. The value of Bitcoin futures, which expired on Christmas Day, reaches $ 2.3 billion, and history has shown that such a move could shatter the market.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button