Bitcoin Trend Rising
Bitcoin prices have been rising and falling less and less in the past three months, and experts say a stronger bull market is coming.
Since briefly reaching $13,800 at the end of June 2019, BTC prices have remained in the $10,000 to $10,300 range.
Every time we approach the support level of $9,000, it bounces back. Although the market believes that Bitcoin will fall to $8,500 because of the CME futures gap, the price remains unchanged.
Last week, experts said there was a possibility that the price of Bitcoin would fall, at least in the short term.
In the long run, the longer the downward pressure on Bitcoin prices lasts, the more likely it will rise.
If that's the case, the price of Bitcoin will be adjusted between $9,000 and $12,000.
In June, experts said $11,700 was a key resistance level for Bitcoin. Bitcoin closed above $11,700 last week, triggering a surge.
The fourth cycle of BTC
Bitcoin market trend, we can see that the current market has entered the fourth stage of history._DJMINER
With the maturity of the market, the cycle will be longer, and Bitcoin has always been in line with this rule.
The first cycle of Bitcoin lasts one year, the second two years and the third three years.
If the above model holds, the next Bitcoin bull market should be between 2021 and 2022.
The stock flow model of encryption analyst PlanB has predicted that Bitcoin prices will reach $100,000 by May 2020 - the next halving time.
Research shows that the relationship between trading volume and Bitcoin price has exceeded the co-integration relationship.
Excluding other factors, Bitcoin is now in its current cycle of growth._DJMINER
Since briefly reaching $13,800 at the end of June 2019, BTC prices have remained in the $10,000 to $10,300 range.
Every time we approach the support level of $9,000, it bounces back. Although the market believes that Bitcoin will fall to $8,500 because of the CME futures gap, the price remains unchanged.
Last week, experts said there was a possibility that the price of Bitcoin would fall, at least in the short term.
In the long run, the longer the downward pressure on Bitcoin prices lasts, the more likely it will rise.
If that's the case, the price of Bitcoin will be adjusted between $9,000 and $12,000.
In June, experts said $11,700 was a key resistance level for Bitcoin. Bitcoin closed above $11,700 last week, triggering a surge.
The fourth cycle of BTC
Bitcoin market trend, we can see that the current market has entered the fourth stage of history._DJMINER
With the maturity of the market, the cycle will be longer, and Bitcoin has always been in line with this rule.
The first cycle of Bitcoin lasts one year, the second two years and the third three years.
If the above model holds, the next Bitcoin bull market should be between 2021 and 2022.
The stock flow model of encryption analyst PlanB has predicted that Bitcoin prices will reach $100,000 by May 2020 - the next halving time.
Research shows that the relationship between trading volume and Bitcoin price has exceeded the co-integration relationship.
Excluding other factors, Bitcoin is now in its current cycle of growth._DJMINER
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