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Josh Rager, a popular cryptocurrency analyst on Twitter, explained to Twitter that number one cryptocurrency could be captured in an accumulation area until mid-July of this year.
According to the crypto-merchant, it took Bitcoin 216 days to accumulate low in the spring in 2015 and it's been fine though a build-up, the candle of 1,000 This week's $ would be the exact middle of the 216 days of accumulation and would end on July 19, 2019.
The trader points out that although this is pure speculation, it is fun to compare nonetheless.
$ BTC Model of accumulation
It took 216 days for Bitcoin to accumulate funds in the spring of 2015
If it 's been an accumulation, the $ 1,000 candle this week would be the exact middle of 216 days of accumulation and would end on July 19, 2019.
Pure speculation but fun to compare pic.twitter.com/I6YfHiqwdW
– Josh Rager ? (@Josh_Rager) April 5, 2019
Read more: "Three Billion Dollars Ready to Flow in Bitcoin and Altcoins," says Mati Greenspan
Rager further points out that in the previous bear market, Bitcoin had formed a pattern of accumulation between its 100-day moving average and its 200-day moving average, which could constitute a similar trading range for BTC in the future close.
$ BTC W Accumulation Graph
Previous bear market Bitcoin accumulated under the 100 MA & supported by the 200 MA
A similar accumulation could occur with 200 MA (wick below) with the next uptrend starting after break above 100 MA
A possible scenario to be observed in the coming months pic.twitter.com/BHZ3YN6kHZ
– Josh Rager ? (@Josh_Rager) April 6, 2019
In February, Chepicap announced that Rager stated that after 2021, the price of Bitcoin could increase significantly, making the price unaffordable for the general public. Most people will then only be able to buy a fraction of the BTC because the price could be out of reach for the most part.
This "could be" the last time the general population can afford to buy an entire $ BTC
After 2021 – Bitcoin could evolve to a market price where most would buy only fractions
Overall income per household is debatable, regardless, $ BTC speculative value could be out of reach for most pic.twitter.com/GrmepQyNPp
– Josh Rager ? (@Josh_Rager) February 11, 2019
While the cryptography markets are now in the middle of the weekend's trading session, Bitcoin has been able to maintain its momentum, and continue its upward trend.
Read more: Bitcoin Cash and Litecoin take the lead, BTC at $ 5,166
Bitcoin is currently trading at around $ 5,143 and is posting a 2.39% growth on yesterday's prices. Today's rise was exacerbated when BTC briefly fell below $ 5,000 earlier in the day, indicating that this level has become a support region for Bitcoin.
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