The price of BTC has reached the major resistance level of about $ 12000. A leading network analyst notes that more than 93.5% of Bitcoin accounts have a price below the break-even purchase price. Could this be the end of profit-taking or, as Wu suggests, the beginning of the mega-bull phase?
How high can the value of Bitcoin rise
There are many predictions regarding future peaks in the value of Bitcoin. Most recently, Bobby Lee confirmed his forecast for $ 500,000 dollars. However, according to Wu, this is the limit.
He points to Vijay Boyapati’s previous views that as weak hands begin to lower break-even prices, the premise for the next phase is being built. Moreover, combined with a decrease in selling momentum due to halving, it is clearly in a bullish cycle.
Success in the final stage of the bull run in 2017 was beyond imagination. The euphoria in DeFi, along with the correlation in gold acting as a positive reinforcement, will seek to repeat these gains.
