December 18, 2020 / Forecasts

Analysts Named Reasons For Further Growth Of Bitcoin

bitcoin binance research

Crypto community members still see the prospects for a positive movement in the BTC rate.

Most of the cryptocurrencies from the top 10 of the CoinGecko resource capitalization rating complete the working five-day growth. On the night from Thursday to Friday, bitcoin broke through the level of $ 23,500 on a number of exchanges. As of 10:47 (Moscow time), the cryptocurrency is trading at $ 22,992. The daily growth of BTC was 2.9%. During the week, bitcoin has risen in price by 25.7%.

The rate of the oldest cryptocurrency, Litecoin (+ 17.0%), grew more actively than others over the past 24 hours. She also holds a weekly record of positive movement in the top 10 (+ 43.9%). XRP (+ 2.4%) grew slower than others over the past 7 days.

Against the background of the active growth of bitcoin, many celebrities paid attention to the cryptocurrency. For example, popular American rapper Juicy J asked his audience if he should invest in BTC. Morgan Creek Digital co-founder Anthony Pompliano came to his aid. He asked the rapper to contact him in private messages. Many other popular members of the crypto community also noted in the comments to the musician’s post.

Meanwhile, the analyst, the author of the popular S2F model for forecasting the bitcoin rate PlanB, presented an updated chart to the readers of his microblog. On it, as he noted, an orange dot appeared. Such changes, according to the rules of the S2F model, confirm the transition of the cryptocurrency to an active growth phase.

https://twitter.com/100trillionUSD/status/1339648467367563267?s=20

Analyst Lark Davis, in turn, analyzed the prospects for the positive movement of BTC. In his opinion, the history of changes in bitcoin indicates the prospects for the growth of the cryptocurrency rate.

Most crypto community agreed that the positive movement realized by bitcoin and the broken resistance levels opened up the opportunity for the digital asset to grow to $ 50 thousand in early 2021.

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