Cryptocurrency

Bitcoin Bullrun incoming, it Makes sense to buy now BTC?

Who is already for several years in the crypto space is active, and know that Bitcoin is predictably unpredictable. On the one hand, gorgeous is a Bitcoin deterministic – think of the average block time, the Halving Event every 210,000 blocks, or the periodic adjustment of the Difficulty. On the other side of the Bitcoin exchange rate is enormously volatile, and (more or less) is unpredictable.
Since this year, the price of 1 BTC has already risen to 36% – a number that sounds straight compared to the Performance of the traditional financial market is gigantic. In view of the upcoming Halvings, the expectations of the Bitcoin exchange rate is high. The confusion of many investors is so large-and the Golden question arises:
The Bitcoin Bullrun is coming and it makes sense right now to buy BTC?

BTC belongs this year to the ‘under performer’

Before Bitcoin, in Particular, devote, we want to start with a brief snapshot of the entire market. The market capitalization of the entire market of 191 billion dollars, rose as we in the following Chart can see – to a current level of 278 billion USD. Thus the entire crypto market could be achieved within 5 weeks, an increase of 45%.

There are some Altcoins, the points with a clear Outperformance since the beginning of the year:

Ethereum could grow this year to 69 percent
XRP, which ended the last year with deep red, is currently 45% in the Plus
the Bitcoin derivatives BCH and BSV were able to grow to 113, respectively, 200%

Thus, we can say already is the following: Bitcoin is not in this year (in comparison to the previous year) so one of the Top performers. From this we can deduce now the contentious question of whether a) the Altcoin-Season currently in full swing, or b) BTC in Relation to the gains of many Altcoins now has still quite a bit of air to the top?

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Bitcoin Bullrun: Uses BTC, the current Momentum?

If we look at the opinion of some analysts and Crypto-veterans like Mike Novogratz, the mood is clear: Bitcoin still has a lot of Potential to the top and is of the opinion now for the first time at the beginning of a larger price movement. Let’s look at what reasons are given and where BTC could land.
We start with the Bitcoin bulls and Galaxy Digital CEO Mike Novogratz. This was just two days ago, a comment that reminds us of the past. Which is why this comment in the past, we want to look at the same. In a recent Tweet by Novogratz is all the current Momentum. So Novogratz said that when ETH is down for a few days over 200 USD and BTC breaks the $ 10,000 USD – we are ready for the trip and shoot upward.’

We come now to the past: the 10,000 mark is arguably a very important Resistance of/for Bitcoin. To demonstrate this, and the associated relevance, let’s first look at the Bitcoin price over the past 3 years, as well as the opinions of Tyler Winklevoss, and Thomas (Tommy) Lee.

The $ 10,000 is the actual start of the shot?

A look at the Bitcoin Chart, the (almost) last 3 years clearly shows us how rare and, accordingly, relevant to a Bitcoin exchange rate of more than 10,000 dollars.

We all remember well the Bullrun in the year 2017. As the BTC had cracked the magic mark of the$ 10,000, went out of the way, only upwards, and reached the then-ATH of 20,000 USD. As Bitcoin is the second (and last) beat the brand in June 2019 rose Bitcoin in a 38% to 13.800 Dollar. The Exceed of this value has caused in the past, so associated with euphoria.

Mike Novogratz, Tyler Winklevoss, and Thomas Lee are in agreement

At this point, we take the views of the previously announced experts, Tyler Winklevoss, and Thomas Lee. Thomas Lee said in June of last year, shortly before BTC reaching the $ 10,000 – the following sentence in an interview with the Binance CFO.

I think that the FOMO kicks in only if we reach the $ 10,000. The path of 10,000 up to 20,000 will be fast.

From today’s perspective, we don’t know that Tommy Lee had it right to 100%. The Reach of the brand has triggered FOMO and the rate continues to increase, the predicted 20,000 USD, however, were not achieved. Now let’s look at how Tyler Winklevoss and evaluated the Situation in the past:

Here, too, we see a similar picture: Tyler Winklevoss took the $ 10,000 as a reason for a bullish forecast, of which $ 15,000 would have to be cracked. For this purpose, it was not, however.

Is now a good opportunity to buy Bitcoin?

Both the technical indicators, the fundamentals are bullish. It seems as if our Bitcoin ship most back enjoying the wind. It is established that the expectation of the imminent Halving is high. It is established that the Reach of the $ 10,000 is a huge important step for the future of the Bitcoin price development. The adoption of a directly occurring “FOMO Kicks” for many private investors to Reach the $ 10,000 USD I believe, however, speculative.
A glance at the past shows us, however, that at a Time BTC rose and then by a further 40 percent to almost 14,000 USD and the very first Time and even the all-time high of almost $ 20,000 has been reached. To put it short: There are definitely worse time to buy BTC than it is now.

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In your opinion, is currently an opportunity to buy Bitcoin? – How would you rate the price development in the coming weeks and months?
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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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