Nothing interesting has happened on the Bitcoin price chart for a long time. We ran into a couple of weeks’ oyster mushroom, which I think has just… ended. What will happen next with the BTC price?
Bitcoin in consolidation
Over the past few weeks, BTC has disappointed those investors who appreciated its high volatility. Today, however, the price of the cryptocurrency has increased. At the time of writing these words, you are already paying $ 9,354 for 1 BTC, which translates to 2.2 percent. growth on a scale of 24 hours.
Ethereum is also clearly growing. For 1 ETH on exchanges you have to pay USD 243, i.e. 2.5%. more than a day earlier.
Does this mean the end of the sideways trend and entering the cycle of a new bubble? Today it is premature to suggest this type of scenario, but on the other hand it is real. However, to confirm the market’s belief, Bitcoin must break the level of USD 10,000.
Back above $ 10,000
Changpeng Zhao, CEO of the Binance cryptocurrency exchange, is a supporter of such a bullish scenario, who believes that Bitcoin will soon get out of a narrow consolidation of between 9 and 9.5 thousand. USD and will increase to USD 10,000.
In a recent conversation with a Bloomberg journalist, he admitted that “Sooner or later it will explode, but at the moment Bitcoin is really stable.”
In turn, a technical analyst at Blockfyre says that BTC will soon start growing strongly, and smaller altcoins, which have recently given investors a lot of profit, eventually “Will bring them pain.”
Why I’m scaling back into my #alts and reducing my $ BTC exposure
BTC.D is showing weakness after a strong 860 day trend of HH’s and sideways. Alts look better than they have in months. Dare I even say mini alt season? Shill me some below + let’s trade together$ THETA$ LINK$ OMG pic.twitter.com/IZHNzqt37k
– Pentoshi (@ Pentosh1) May 21, 2020
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Also remember that the current one course You can always check Bitcoin and other cryptocurrencies in the tabs: exchange rate Bitcoin and the cryptocurrency rate on the website . In turn, a certain place where you can buy Bitcoin and other kryptowaluty, include Poland cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, in this article you will learn how to create one quickly and efficiently: LINK.