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Bitcoin: reasons for the growth

Bitcoin: reasons for the growth

 

Bitcoin: reasons for the growth in December, forecast
The prospect of further growth of cryptocurrencies. The reasons for the increase in BTC prices from $3,000 to $4,000.
Contrary to all expectations, in mid-December, the BTC rate showed an increase of more than 20%.

Let's see what this is connected with and what awaits Bitcoin in the near future.

This is a harbinger of an uptrend, or a haircut for short-lovers.

Bitcoin: reasons for the growth in December, forecast for January 2020.
Reasons for the growth of Bitcoin from 3200 to $4100
There was no specific news with which a sharp increase in the main cryptocurrency could be associated.

For six months, the news background was positive, but the btc rate fell uncontrollably.

By the new year and Christmas, the usual fall in prices was expected, associated with the release of “hamsters” in fiat, despite heavy losses.


Classic cryptocurrency exchanges cannot affect seasonal rate dumps.

However, margin trading (leverage trading) provides tremendous opportunities for truly large players.

The expected number of short positions has increased. Those. Most of the traders were preparing for the fall of the BTC rate below $3000. This is where the big players played (it was the “whales” or the exchanges themselves, it's hard to say for sure).

The elimination of short positions lasted 4 days, bringing the greatest profit when crossing the bar at $4000.

The suspension of further growth of Bitcoin confirms the validity of this theory. Raising the course to $5000 is much more difficult.

And, most likely, this would mean a full reversal of the cryptocurrency market. Currently, the market is artificially restrained. We wrote more about this earlier.

However, the rise in the price of bitcoin from $3200 to $4100 was accompanied by an instant transition of almost all cryptocurrencies to the green zone. The growth affected both coins traded in pairs with USDT and stable coins, as well as the bulk of coins convertible to BTC.

BTC forecast for January-February 2019.
A systematic rise in the price of bitcoin in the winter months is still unlikely.

The trigger can be the SEC's positive decision regarding bitcoin-ETF, which was again postponed to the end of January 2019.

Nevertheless, the upward price movement that pleased us in the last week showed that:

The cryptocurrency market is alive. And investors are waiting for an opportunity to enter.

The price of bitcoin at $ 3,000 has found very strong support, which at this stage can be called the bottom.

Miners who turned off their farms when the exchange rate fell from $ 6,000 to $ 3,000 partially returned with the growth of bitcoin.

The growth of BTC this time was not accompanied by an exit from altos to bitcoin. On the contrary, the holders of the main coins from the TOP-500 became much more.

Output
From all the above, the following conclusion can be drawn: the current decline in the value of cryptocurrencies is really the next cycle in the development of digital assets. First, this is evidenced by the instant growth of the cryptocurrency market capitalization with an increase in the value of bitcoin in each of four days.

Currently, almost all FOMO investors who have purchased on hype have left the market.

Coins continue to consolidate in the hands of major players and private holders who are ready to wait for the next major market growth for 1-2 years.

It remains to be expected that an analogue of the singularity point will be reached, after which the next, even larger growth of cryptocurrencies, headed by bitcoin, starts.

 

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