Bitcoin (Bitcoin) Holding $50,000 is a surprise to the market, but bullish indicators suggest that the potential gains are much greater.
Data from Transaction view It is now clear that the BTC/USD Weekly Moving Average Convergence/Divergence (MACD) indicator has changed from red to green.
Is it time for the price of Bitcoin to rise 5.5 times again?
There is no shortage of bullish BTC price indicators this month, and everything from exchange balances to network fundamentals is in a weakly optimistic mode.
MACD produced a rare crossover in early August, but increased the potential for upcoming earnings, an order of magnitude larger than what the market has seen so far.
As Cointelegraph Report, This indicator is a reliable indicator for determining the overall trajectory of assets, so far, Bitcoin is no exception.
The last time there was a bullish crossover, the price of BTC/USD rose 5.5 times-from $11,500 in October 2020 to an all-time high of $64,500 six months later.
If history repeats itself, by the end of this year or early 2022, the price of Bitcoin may exceed $220,000.
Pomp has set his sights on the new Bitcoin “Blast Top”
This forecast exceeds even more optimistic estimates for the remaining half of 2021. Include Inventory-to-flow creator PlanB’s “worst case” in December was $135,000.
Related: New data indicates that Bitcoin may see the peak of the BTC price “double bubble” in 2021
Nevertheless, celebrities firmly support the continued rise-so much so that they continue to have a record in the mainstream media.
Anthony Pompliano, co-founder of Morgan Creek Digital, said: “I can’t emphasize enough-I think by the end of this year, we will see prices rise very, very quickly.” Tell CNBC Monday.
“In 2017, Bitcoin rose from $10,000 to $20,000 in 18 days. This is an explosive peak-I wouldn’t be surprised to see such crazy things happen before the end of the year.”
Bitcoin’s month-to-date return rate currently exceeds 20%.