Analysts: bitcoin will return to their previous peaks within two years
KIEV. March 7. UNN. Analysts of the canadian company of the Canaccord Genuity Capital Markets believe that the price of the first cryptocurrency has found a bottom, with a mark of 20 thousand dollars. will be reached again after two years. It is reported by Market Watch, reports UNN.
The researchers compared the charts of BTC/USD for 2011-2015 and the period 2015-2019, and noted a striking similarity between the patterns, which followed the price of bitcoin during these periods.
“Looking to the future, if bitcoin will continue to follow the same path as in the years 2011-2017, it means that BTC has reached a bottom and will soon begin to climb back to the historical maximum in the region of 20 thousand dollars. Theoretically, this level is reached in March 2021,” noted the researchers.
The fundamental growth factors of the “digital gold” analysts related:
– expected at the end of may 2020 halving rewards miners for the extracted block, which will make bitcoin more scarce asset;
– the launch platform for the trading and storage of cryptocurrency from Fidelity;
– the growing interest in BTC by institutional investors;
– implementation of solutions that improve network performance bitcoin;
– the growing popularity of cryptocurrencies in developing countries.
Recall that bitcoin has already reached the bottom in January, said founder services Scup and Sprinklr Renato Shirakashi. His opinion was reinforced by increased sales and cost data of indicators MVRV and NVT Ratio.
Note that many countries still fear legalization of electronic money. And Ukraine is one of them.
Registered in the Parliament several draft laws on the legalization of cryptocurrency, and recently it was decided to combine them into a single document. Registration it is not yet gone.
Note that the author of one of these bills is the MP from the RPL Serhiy Rybalka (last year he was fired from the post of Chairman of the Finance Committee BP). His paper was appreciated by the experts of the Bitcoin Foundation, calling senseless and populist.