The Currency Analytics
By Dan Saada
Monthly Flip of Bitcoin
Bitcoin After the Second Halving
What Stops Bitcoin to Reach $100,000 Level This 2020?
Crypto analysts and traders see Bitcoin (BTC) getting more expensive than previous weeks. The recent bullish price momentum of the leading cryptocurrency by market cap is giving…
While BTC bulls are doubling their efforts before the upcoming halving, others are giving fearless predictions on how high it will soar in years to come.
Over the past few weeks, Bitcoin’s price holds the $9,445 zone. Since the bear market made traders frustrated in 2018 and 2019, the bulls are now celebrating.
However, some analysts fear that the recent rally might give the crypto space another false victory.
On January 12th, the Moving Average Divergence Convergence was on its first red candle. But, other major timeframes like daily and weekly appeared to be in bullish patterns.
After three weeks, traders become more excited. That’s because Bitcoin charts completely transformed into incredibly bullish.
Crypto analyst Dave the Wave believes that Bitcoin has a big chance of hitting above the $100,000 zone in the next few years.
Considering the crypto’s historical performance after the halving season, it rose from $12.31 to $994.21 in the first halving.
Additionally, the leading cryptocurrency made a stunning market performance as it rose from $650.63 to $19,535.70, which resulted to its all-time high during the second halving.
If you’ll remember, Bitcoin’s price rose from $8,879 to $8,879 on January 14th, which resulted to an 8.5% daily increase.
Besides, on January 1st, the price of BTC was about $7,200, along with 6.57% mining difficulty.
When January 28th kicked off, the crypto brought a gradual difficulty growth of 4.6%, leading to price bounce from $8,900 to $9,350.