Members of the crypto community believe in BTC potential for positive movement.
Most of TOP-10 cryptocurrencies of CoinMarketCap started Wednesday with a positive movement. Bitcoin, at the press time, is trading above $14,000. BTC growth results were the best among TOP-10 cryptocurrencies.
Participants of the crypto community drew attention to the fact that Bitcoin again broke through the level of $ 14,000. Analyst Lark Davis, in turn, notes that BTC, for the first time since January 2018, closed daily trading above the designated height. In his opinion, this behavior of the cryptocurrency indicates the potential for further growth. The analyst is confident that “Bitcoin will be able to reach $ 20,000 faster than many people assume.”
— Lark Davis (@TheCryptoLark) November 4, 2020
According to the popular analyst PlanB, the author of the S2F model, the growth prospects of BTC are also indicated by a gradual increase in the average value of the cryptocurrency over 200 days. A rebound from the curve, in his opinion, indicates the preparation of Bitcoin for a new wave of positive movement.
Many members of the crypto community agree with the idea that if the altitude is held, the road to $ 14,500 will be open in front of BTC.
If price finds acceptance above weekly and monthy open I think we will see 14.5k this week or at least a retest of 14.1k
— Inmortal technique (@inmortalcrypto) November 3, 2020
Note, that members of the crypto community expect Bitcoin to grow against the background of a significant decrease in the complexity of mining. According to Unfolded, the fall in the indicator turned out to be the second largest in the entire history of a digital asset. The difficulty of mining Bitcoin has decreased due to the active surrender of miners.
2nd largest negative Bitcoin mining difficulty adjustment in history: (-16.05%)
— unfolded. (@cryptounfolded) November 3, 2020