Bitcoin price continues to rise – still get in? November 6, 2020 by drbyos
The Bitcoin price has more than tripled since March.How much room for improvement is there and is it worth joining now? Bitcoin price development during Covid-19
Bitcoin has performed very well since the pandemic began, from $ 4,000 to $ 14,000 to date.The USD 14,000 mark is a very decisive one for the market, as this is the second highest level in Bitcoin history, which was reached on June 26, 2019 and was only exceeded by the all-time high in January 2018.Since the summer of last year, the BTC / USD lost massively in value to the last low at 4000 USD.
Bitcoin price forecast – Tradingview How can it go on now?
So much for the view in the rearview mirror (red arrow).
Now it’s getting really exciting to see how the market behaves at this magical $ 14,000 limit.From a technical point of view, the current dynamism and trend strength in the market suggest that the trend will continue and the price should continue to rise (forecast blue arrow).
Depending on the risk appetite, partial entries (e.g.50% of the entire position) can be used here, since profit-taking often begins near such a price mark and the price could fall again.This correction can then be used for subsequent purchases.
The next intermediate goal here are the psychologically important round price levels (15,000, 16,000 USD, etc.).On the way there will surely always be minor and medium-sized corrections.
However, these corrections should not be viewed as evil as they are the prerequisite for new buyers to enter the market and thus the market to continue to grow in the medium to long term.It is important to observe the market accordingly and to pay attention to possible trend breaks in order to then sell if necessary.
A look at the so-called financing rate also gives further impetus for sustained increases in the Bitcoin price.You can find out what exactly the financing rates are and how they are to be classified in this current article .Crypto instant loans from only 5.9% interest per year.Earn up to 8% interest per year with your stablecoins, USD & GBP.
$ 100 million deposit insurance.
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Posted By Tom Fischer
Tom is an active trader, investor and analyst with passion.He has been active on the capital market since 2008 and bought the first bitcoins in 2012.Since then, many thousands of transactions have followed in all common asset classes including crypto currencies.In addition to personal interest, after studying business administration, various jobs in the financial sector were added to this day in order to further expand his knowledge.
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