Cryptocurrency

11/04/19 07:10 UTC-4

The Bitcoin rate can grow by another 20%: according to analysts

Bitcoin can grow by 20%
Bitcoin can grow by 20%

On April 10, there was information about the possibility of rapid growth of Bitcoin. According to CoinDesk Markets analyst, Sebastian Sinclair, the first cryptocurrency can rise in price by another 20%.

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Bitcoin can become more expensive by 20%

On April 9, Bitcoin held out at a cost of between $ 5,187 and $ 5,287 per coin. At the same time on the same day there was a strong bearish pressure on the market. This can speak well for the scenario of rapid price growth and a strong cryptocurrency support line.

Considering the hourly chart of the dynamics of value, it is noticeable that buyers (bulls) were able to withstand the onset of sellers (bears) above the line of support for the course of $ 5,200. This information clearly indicates a strong uptrend intensity.

At the same time, Sinclair spoke about the "triangle" shape that appeared on the chart. The price of Bitcoin is confidently moving forward, reducing the amplitude of the falls. The top of the "triangle" pattern is the mark of 5880 US dollars, which is 20% more than today's price. In simple words: the graph shows that the price of Bitcoin is rising, and the periods of decline are decreasing. The last point to confirm the growth will be to overcome the resistance line of $ 5350.

If Bitcoin grows to $ 5,350 in the next few days, that means it will rise to $ 5,880 by the end of the week. At the same time, the indicators of the moving average (MA) also do not cease to grow. Indicators for the 100 and 200 of the past days can become equal in just a few days, which obviously can provoke an even greater jump in the course.

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Analysts believe that the rate of Bitcoin can grow by another 20%. Recall that on April 8, Ethereum cryptocurrency grew by almost 6%.

Editor: Alyona Nabok

See also: "Cryptocurrencies were included in the Michigan Penal Code"

#Bitcoin #BTC #cryptocurrencyrate #Bitcoingrowth #cryptocurrency

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