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When will Bitcoin rise again (When will Bitcoin rise)?

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When will Bitcoin rise again? According to Huobi market, today\’s Bitcoin price i

When will Bitcoin rise again (When will Bitcoin rise)?

When will Bitcoin rise again? According to Huobi market, today’s Bitcoin price is generally in a range-bound trend. In the early morning surge, the highest price of Bitcoin reached around 10,300, and then quickly fell back to around 10,500. It is now around 11 o’clock. From the daily chart, the Bollinger Bands open upwards, the MA5 moving average crosses above the MA10 moving average to form a golden cross to suppress the rebound of the coin price; the green momentum of the MACD continues to increase, and the KDJ three lines cross below the zero axis to diverge downwards, showing a death cross trend; RSI and Stoch have both broken through the 50 level, maintaining an adjustment posture in the short term.

It is reported that this wave of gains since the beginning of this year has been driven by the entry of large institutional funds, including Wall Street giants. They believe that with the development and maturity of the investment market, Bitcoin is very likely to become one of the “safe haven” assets in mainstream currencies, and there is reason to believe that Bitcoin will become more and more valuable and attractive as the market grows and regulatory policies are introduced.

When will Bitcoin rise?

When will Bitcoin rise? On the early morning of November 18, 2020, the total market value of global cryptocurrencies exceeded 1 trillion US dollars. According to Cointelegraph, in the past few days, the world’s largest digital asset exchanges Coinbase, Gemini, Kraken, and Poloniex announced that they will support the BTC/USD trading pair. In addition, Coinbase’s Chief Technology Officer Paolo Ardoino said, “We expect Bitcoin’s price to continue to rise in the near future.” The price of Bitcoin’s rise is highly correlated with traditional financial markets. Recently, reports have indicated that investors are pouring into the industry as the Federal Reserve tightens policies and demand for safe-haven investments such as gold increases. According to data provider Messari, the average volatility in January this year was 12.6%, a decrease of nearly 20% from its peak in 2018.

Data shows that Bitcoin’s gain at the end of 2019 has exceeded 50%. From the beginning of 2020 to the end of 2019, the “bull” has become mainstream, but now the “bear” is gradually appearing and receding. Analysts believe that there will still be some rebounds in the market until the end of 2021 or the middle of 2022.

The main reason for the surge in Bitcoin prices is people’s concerns about inflation. With the increasing risk of deflation, governments around the world have increased their efforts to print money, leading to a decrease in supply, while the depreciation of the US dollar is also an important catalyst. In recent months, the nomination of Jerome Powell by US President Biden as Chairman of the Federal Reserve has driven economic recovery. (Jin Shi)

In addition, some analysts predict that if the COVID-19 pandemic is under control, Bitcoin may experience explosive growth again, which will bring more pressure.

From the chart above, it can be seen that after the stock market plunged in early May, the stock market also experienced a callback, but there was no apparent decline afterwards. This indicates that there is a view in the current market that “institutional funding may further drive up the price of Bitcoin”.

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