Will the price of bitcoin rise in the near future
On the night of February 16, the average value of bitcoin reached $10,324. Then the price fell, and now the cryptocurrency is trading at $10,100. At the same time, over the past two weeks, bitcoin has risen by $4000 — by about 60%.
Analysts are optimistic: if bitcoin can hold at $10,000, then soon the price will start to grow and we will see the price of bitcoin at $12,000.
Optimism in the community is also encouraged by predictions from the end of January that the bull market will come after the celebration of the Chinese new year, which began to celebrate today. Analytics of previous years confirms it.
So, we see that since 2015, a clear model has been established, when bitcoin falls in January, and in February the price is already rising.
However, the experts on technical analysis are not so happy: if bitcoin can not gain a foothold of $10,000, we will see a decline in the price to below $7000.
Recall that in January 2018, the majority of cryptocurrencies decreased in value, and the total capitalization of the market fell to $279 billion. The situation began to improve after the meeting of the us Senate, at which financial regulators discussed trends in the cryptocurrency market and concluded that at the moment the industry does not need strict control or restriction on the part of the government. After that, most of the coins have started to rise in price — total market capitalization has doubled and currently stands at $480 billion.