BlockchainWeiss Crypto analysts named 3 reasons for the rapid...

Weiss Crypto analysts named 3 reasons for the rapid growth of bitcoin

In their opinion, the positive movement of bitcoin is supported by several factors at once.

All cryptocurrencies from the top 10 of the CoinMarketCap resource capitalization rating , with the exception of the stablecoin Tether, end the week with a fall. As of 07:52 AM ET, bitcoin is trading at $ 9,177. The cost loss per day was 2.19%. Cardano has suffered the most. In 24 hours, the cryptocurrency lost 2.70% of its value.

Despite the fact that after the halving, BTC did not manage to demonstrate the long-awaited growth, the majority of cryptocurrency investors continue to hold on to their current savings. These conclusions can be reached by reading the audience survey results of the popular analyst PlanB.

The specialist conducted a survey, during which he asked the readers of his microblog about their current actions in relation to BTC. It turned out that more than 65% of its audience hold cryptocurrency for a long time, over 18% of users are actively buying bitcoin at the moment, and only 3.9% are busy selling their savings.

PlanB also drew attention to the fact that in November 2017, it took the cryptocurrency only 20 days to reach a record value from the current BTC level near the $ 20 thousand height.

The current position of BTC was also commented on by the specialists of the analytical company Weiss Crypto. In their opinion, “the long-term prospects for cryptocurrency could hardly look more exciting.”

Also, experts named 3 reasons , which, in their opinion, make it possible to give a positive forecast for the further direction of bitcoin movement:

  1. Against the background of the quantitative easing policy chosen by the government of a number of countries, which implies an artificial injection of freshly printed money into the economy, many see BTC as an asset for saving value during a period of financial instability.
  2. Institutional investors are showing attention to bitcoin.
  3. The movement statistics, reflected in the S2F forecasting model , point to the prospects for BTC to grow to $ 70K by next year.


Matthew Leising
I cover market structure for News Alarms, specifically how the bond, derivatives, and cryptocurrency markets work or don't.

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