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Despite today's sales pressure, Bitcoin and all crypto markets are showing a strong upward trend that has allowed BTC to reach new highs in just a few weeks. This upward trend has everything to please the beginnings of a bull market, and many analysts believe that cryptography still has a lot to gain.
Looking at Bitcoin's historical trend data, it is clear that they could generate significant gains in the next uptrend, potentially reaching a value of up to $ 78,500. coming years.
Bitcoin drops slightly after failing to maintain more than $ 8,000
At the time of writing this report, Bitcoin is up just under 2% at its current price of $ 7,870, down slightly from its peak of almost $ 8,300 in 24 hours. .
Although the rapid passing of Bitcoin in the $ 8,000 region has led many traders and analysts to believe that a move towards the $ 10,000 was imminent, its inability to maintain stability in this region of prices could indicate that additional consolidation is required before BTC continues its bullish movement and is close to its important $ 10,000.
Moon Overlord, a popular cryptocurrency analyst on Twitter, recently shared his thoughts on BTC in a recent tweet, noting that a break down of the dish created by BTC could lead to a backtrack to price levels as low as $ 5,800.
"$ BTC 3D C is complete madness at this point, but that's what it is. The parable is about to bend back and break space and time. Redesign the targets higher, more than $ 8,200 and nearly $ 10,000 afterwards … If the parable collapses (eventually it will) to 5800-6400, "he said in a thread tweets from yesterday.
If the dish breaks down (it will eventually be), the bids are between 5800 and 6400.
– Moon Overlord (@MoonOverlord) May 13, 2019
BTC could be on the way for almost $ 80,000
Although, over a shorter period, the question of whether BTC will be able to approach $ 10,000 in the near future remains uncertain, if we look at cryptocurrency in a long-term perspective, There is a strong possibility that crypto causes considerable losses. new earnings in the near future.
Josh Rager, another popular crypto-computer analyst on Twitter, analyzed Bitcoin's historical trends, concluding that the next uptick could push cryptocurrency up to 2.392% in the coming years.
Bitcoin rate of return for each market cycle (each cycle has a return of 20% over the previous cycle): 2011: Return of 318,864% = $ 31.90 Best 2014: Return of 58,474% = 1,177 , $ 19 Top 2017: 11,960% yield = $ 19,764.51 High 2022: Potential yield of 2,392% = $ 78,500.00 High Potential, "explained Rager.
Bitcoin return rate at each market cycle
(Each cycle had a 20% return from the previous cycle)2011: yield of 318 864% = maximum of $ 31.90
2014: yield of 58,474% = 1,177.19 USD
2017: yield of 11,960% = $ 19,764.51
2022: Potential Return of 2,392% = $ 78,500.00 High Potential pic.twitter.com/7KP439cpZE
– Josh Rager ? (@Josh_Rager) May 14, 2019
As the price of cryptocurrency continues to unfold and cyclical market conditions improve, analysts will likely understand the likelihood of a further rise to new unprecedented highs.
Selected image of Shutterstock.
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