Bitcoin up 250% since December, a price of $ 40,000 is expected for BTC
A big bullish weekend is usually followed by a red Monday for the bitcoin and crypto markets, but this has not materialized yet. BTC has continued to climb and is now back to its highest level of 2019 in fifteen months. It is likely that more profits will be made and if Bitcoin can repeat the performance of the previous six months, there are important things at stake that have not been glimpsed.
Bitcoin returns above $ 11,000
Bitcoin has returned to its highest annual point of $ 1,200 during Asian trade today. It’s the third time since the five-figure barrier that BTC has reached this point of resistance has broken, so a move above it could be on doors. Once again, an anticipated rollback has not materialized since BTC defies calls or correction.
Yesterday there was a marginal drop to $ 10,800, but the general trend in the last 24 hours has been increasing. The daily volume has fallen below $ 20 billion. The king of cryptography has risen an impressive 20 percent at a time since last week.
That sounds good, but an even more impressive figure is the 250 percent that BTC has achieved since its low level in mid-December. From a minimum of $ 3,200, Bitcoin has risen to a high of $ 11,250 in just six months. A repeat of this performance with 250 percent more than today’s prices will put BTC very close to $ 40k. The merchant and investors Josh Rager, believes that it could be even more:
“There is a solid point here, now $ with respect to BTC has surpassed this weekend with a 259% increase since December, and another 259% from this point would take Bitcoin to $ 40k”
Can BTC reach $ 13,500?
A few hours ago, Rager added that a break in the resistance at $ 11,500, which is now only $ 300, can cause the BTC to rise to $ 13,500. Here there is very little resistance in the weekly information and the level of recoil of Fib 0.618 is also found here.
“The break between $ and BTC and closing above $ 11,500 could bring the price to $ 13,500 or more. Large space in the volume profile and without more resistance up. You can place a safe / long purchase (with a stop) for a possible opportunity for a $ 2k move. “
The recent new Bitcoin test above $ 11k has raised the total capitalization of the crypto market to $ 333 billion. BTC now controls almost 60 percent of the entire market and shows no signs of decreasing. Good news for the Bitcoin maximalists, but not so nice for those who have altcoins.
Profits remain very marginal for most of them and many are still below 80 percent from their peaks. Bitcoin is still in charge of things on cryptographic land this week.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.