EOS TO THE MOON? EOS TO REACH $128? INCOMING AIRDROP! CRYPTO NEWS!
At the height of the crypto winter on December 15, 2018, the bitcoin rate reached its minimum of $ 3120, but over the last year its value has more than doubled..
At the time of publication, the price of BTC hovers around $ 7113, which is 128% higher than exactly 12 months ago.
After last year’s November collapse, the bitcoin rate reached its apogee over the past few years, and for 3.5 months its value moved in the $ 3300- $ 4200 corridor. This period, called crypto winter, lasted until April 2, when the price jumped more than 20% to $ 5,100. The bullish breakout lasted until May, when Bitcoin hit $ 9,000, but then dropped to $ 7,500 amid overbought.
Further pullback was thwarted by Facebook’s announcement of plans to launch its own fiat-backed stablecoin, which caused a stir and allowed the bulls to push the price up to $ 13,800 in two weeks. However, the subsequent pressure from the regulators on Libra, as well as the sluggish start of the long-awaited Bakkt delivery futures, cooled the fuse of the market, and by the end of October the BTC rate returned to the level of $ 7,500..
Although during this period bitcoin did not set new absolute records, not every traditional asset can boast of an annual growth of 120%. In addition, halving will take place in May 2020, as a result of which the miners’ reward will be halved. Analysts predict different values of future prices, but they all expect significant growth due to scarcity and increased costs of mining one coin.
Regarding the near-term outlook, so far the market is dominated by bears and the chart looks heavy, as can be seen from the downtrend channel with undulating fluctuations.
If in the near future there is no incentive sufficient to jump above $ 7,800, the bears will continue to pressure until testing the support level around $ 6,500.
text: Ivan Malichenko, photo: Shutterstock, chart: TradingView