Cryptocurrency, even though it has been characterized by huge price fluctuations over very short periods of time, has become an excellent means of preserving capital, especially in the long run. In addition, it has also become a great tool for traders, as due to high volatility they have the opportunity to take a greater profit from the market than in the case of any other traditional asset.
CoinCorner CEO Danny Scott noted that the current results of the cryptocurrency already allow us to talk about a stable positive movement during the third quarter of 2020. The expert suggested that in 2021 BTC will demonstrate no less impressive results.
Members of the crypto community continued to make predictions of the further behaviour of the digital asset. Popular trader Bitcoin Jack decided to visualize the history of the BTC movement. He analyzed the behaviour of the cryptocurrency during the periods before and after the halvings and also calculated the approximate distance that the asset passed from local lows to highs.
According to the analysis, the growth phase of Bitcoin can last 518 days. At the moment, according to Bitcoin Jack, the cryptocurrency has already entered a positive movement. Based on the chart, BTC will be able to update the maximum cost at the end of 2021. The trader believes that the digital asset is able to set a new peak in the range of $266,000 – $328 thousand.
GlassNode analysts also expressed their support for further growth of the bitcoin rate. The potential of a positive movement, in their opinion, is evidenced by the indicators of the indicator, which tracks the complexity of cryptocurrency mining. Its access to the “green zone,” GlassNode noted, has historically been accompanied by a rise in the BTC rate.
Earlier, Morgan Creek co-founder Anthony Pompliano shared his opinion about the potential of the exchange rate of the most capitalized cryptocurrency – Bitcoin.