Bitcoin on the threshold of a mega-bullish phase

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.




Official website:

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

5 Reasons Bitcoin Popularity Continues To Soar In Nigeria

Beyond Terra: Is there a future for algorithmic stablecoins?

Farmland Roadmap

KARATCOIN — The Most Promising ICO

Why Ethereum will 75x by 2030

Paybswap (PAYB) Trading Competition

A Beginner’s Guide to Day Trading Cryptocurrency

ProBit Exchange — SmartKey Partnership Starts on a High Note with $800,000 Raised During Soldout…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Bit Team

Bit Team

Official website:

More from Medium

Meet the Glitchy Bunnies

MI6 makes a wild claim, says Putin could be dead

Atelier Parisien d’Urbanisme,

‘Crooked Lines’ by Zehn Kashyap