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"The last race of BTC was motivated by the hype around the magic money on the internet. The next one will be based on a global, macro-based understanding of the benefits of a non-sovereign digital SOV, capped and enhanced by lightning. The next bull race will be bigger, "he m said.
At a time when bitcoin and the rest of the cryptocurrency market are maturing, researchers such as Shaughnessy expect an increase in the demand for decentralized crypto-currencies and an increase in the value of value stores generated by the general public. which will increase the price of bitcoin.
What do investors expect from Bitcoin in the short term?
Over the past month, the price of bitcoin has risen 33% against the US dollar, from $ 3,901 to $ 5,268.
The price of bitcoins rose 33% last month (source: coinmarketcap.com)
From a technical point of view, the soaring price of bitcoin allowed the dominant cryptocurrency to break through key resistance levels that prevented a further fall below the $ 3,000 region.
According to Josh Rager, cryptocurrency operator, BTC's stability at US $ 5,200 could also strengthen the badet base that would support the next major rally.
"The longer BTC lasts between $ 5,000 and $ 5,200, the stronger it will become after the next upswing. Although, in my opinion, resistance is increasing, bitcoin is likely to remain in the price range of this chart ($ 5,000 region). weeks to come », Rager m said.
Why investors remain confident in a bear market
Since January 2018, despite the recovery of the BTC in April, the price of bitcoin has dropped 74% from its record of 20,000 USD.
Still, many researchers and investors still have confidence in the bitcoin and cryptocurrency market, probably because of the progress made in recent months in the areas of compliance, transparency, security and privacy. institutionalization.
To what extent are traditional insurance funds likely to invest in cryptobadets after the introduction of new French laws? ?? $ BTC #Binance pic.twitter.com/KDPLYOmsi6
– Binance Research (@BinanceResearch) April 17, 2019
Fundamental factors such as hash rate and bitcoin trading volume have also increased since the beginning of last year, suggesting that miners are still determined to secure the Bitcoin network, in hopes that the price Bitcoin will increase in the long run.
It is still possible that Bitcoin's mining infrastructure has improved over the past 12 months, contributing to the increase in bitcoin hashing rate. But. the break-even point of mining has always exerted significant pressure on miners.
The bottom is in
In January, Delphi Digital said in a report that the team expects the bottom of the BTC to be reached in the first quarter of 2019 based on the UTXO output of the network.
"Using the previous low price schedule versus the different bitcoin accumulation points, we can use the current UTXO momentum to strengthen our prediction of an approximate date for a floor price (in the first quarter of 2019). ", says the report.
Traders generally consider that the low bitcoin point in March at $ 3,122 is the bottom of the dominant cryptocurrency according to various factors. In the medium term, researchers expect the sentiment towards the cryptocurrency market to continue to improve.
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