On Friday, Bitcoin (BTC) has reached a new peak for this year, namely $5,796.93, which is all good news for the investors. What’s more, the trend has been a positive one, reaching 54.08%, which brings the total recovery of this asset to 82%. What does this mean? We should start preparing for a record high. CNN’s recent analysis shows that Bitcoin will reach and even surpass the $20,000 threshold we had the chance to see at the end of 2017. According to the report, there are three main reasons for which this will happen.
Experts noticed a Golden Cross
If we look at the information offered by the benchmark results, analysts, and various financial experts, it’s clear that the price for the Bitcoin will reach new heights this year. The last time we noticed a Golden Cross with Bitcoin (BTC) was back in October 2015. Then, it had reached the value of $300, followed later by an astounding number of $20,000. Last April, we also noticed the Golden Cross, which can be a good sign.
Bitcoin (BTC) Relative Strength Index is raging
At the moment, the Relative Strength Indicator has reached more than 53.65, which means that more and more people are convinced to invest in Bitcoin (BTC). In turn, this will also lead to an increase in its value, so prepare your pockets!
The patterns from 2015 are repeating
Those who have been paying close attention to the Bitcoin (BTC) dynamics in recent years may be able to relate to this. Recently, Peter Brandy had tweeted about the fact that Bitcoin is now going through the same moving averages it experienced back in 2015. Robert Sluymer, who works as a technical strategist for Fundstrat, also confirmed that Bitcoin is going strong. Currently, Bitcoin surpassed the 50-weekly MA so that we can be quite sure of the bull run possibility.
Vadim has been a fan of decentralized systems, blockchain technology, and cryptocurrency since he first bumped into these concepts back in 2011. For us, he will cover Bitcoin (BTC), cryptocurrency, and blockchain technology news.