Bitcoin: Accumulation Before Another Jump

27 בדצמ׳ 2020

Since late October, we have seen an amazing surge in the value of Bitcoin. The surges usually don't last long, maybe a day or so. After this exponential growth, Bitcoin enters a phase of consolidation where it "cools down" a bit, and where the whales can accumulate. This has happened for the last five quick surges. You reckon it will happen again?

Every surge comes with an increase in Bitcoin's value of 30-35 percent on average. Assuming we will be entering a consolidation phase, I see the next surge bringing Bitcoin to a value of over $34,000. Be aware that the $30,000 resistance might be quite a hurdle to take.