Bitcoin: What is the reason for today’s maximum?

After two weeks of suffering and “pain,” the expected appreciation of today could well be the beginning of a new uptrend that will boost prices upward over the next year. The price of Bitcoin are calling the attention of traders and HODLers once again increase $ 500 in a few hours.

Looking at the price action in the last two months, we will see that sellers have gone through much of this period, with a slight advantage over buyers, which has pushed prices down.

Before the current high price of Bitcoin, it dropped two digits and tried again for a minimum of 6 months. The downward trend persisted despite the technical and fundamental analysis that points to halving as the main reason for a strong appreciation in 2020.

This high expectation related to halving was complemented by reports that traders expect a price recovery. It is also known that Bitcoin futures prices due in December 2019 and March 2020 increased by approximately 30%, suggesting investor confidence in a seemingly downward market.

If the price action before half is similar to that of Litecoin, we can expect the BTC to probably increase higher before the second quarter of 2020. Despite the political events and risk aversion expected before the US elections of November 2002. 2020

Notable December Period

Around this time, at the end of 2018, prices began to consolidate before skyrocketing, marking the end of cryptocurrency winter.

2018 was a complicated year for the cryptocurrency market, as prices fell, erasing the gains made in late 2017 and early 2018, but the BTC was affirmed in December 2018, laying the groundwork for the recovery of Q2 2019. During this period, BTC prices increased from a minimum of $ 3,200 to $ 13,800 at the end of June 2019.

The price of Bitcoin in 2019, can still reach a significant rise.