Bitcoin (BTC) may fall below $ 50,000, but it has actually been three years since its uptrend this month.
Data from Cointelegraph Markets Pro and TradingView confirms that as 2021 draws to a close, Bitcoin Bull has at least something to celebrate.
Three years, up 2.125%
Despite disappointing year-end pricing expectations, BTC / USD is still an order of magnitude larger than 18 months ago.
March 2020 marked a brief return to near-complete rotation reductions in the uptrend market, which was stable from December 2018. At that time, Bitcoin hit a low level of $ 3,100 – a level that has never been done before and never will be again.
On December 15, 2018, Bitcoin completed a one-year renewal with an all-time high of $ 20,000. Compared to this year’s peak of $ 69,000, BTC Investors thus reported a profit of 2.125%.
Stability continued for several months after that, and April 2019 was a milestone and the market climbed to a peak of $ 13,800 a year.
The year of the “beer market peak” coincides with the season, as analysts weigh the chances of completion and the possibility of slowing down later this year and early next year.
“Welcome to the hands-on period,” concluded Cointelegraph writer Michaël van de Poppe.
“In the season when all the gains on the first day were lost on the second day, everything was finished / eliminated within 24 hours and that’s what people in the market think.”
According to Cointelegraph, September 15 is another anniversary for Bitcoin, as it spends more than $ 10,000 a year.
I look forward to “prosperity.”
Although it is impossible for most market participants to raise up to $ 20,000, analysts have not overlooked the possibility that Bitcoin will accelerate again in the short term.
For the popular Pentoshi trade, this could take another form of profitability to “wash away” the extras in the market.
The basic level of support is around 40,000 USD. Breaking this level will allow BTC / USD to defeat its mining machine in May to challenge its fall.
Instead, trader Philipbull assured this week that the “most painful” situation would actually rise to $ 60,000.