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08
Dec, 2019

Possible 15 % rise in Bitcoin’s price ?

Bitcoin’s price fall near $ 6,500 in late November made many analysts consider this could be a bottom in technical analysis. Although, Bitcoin’s price recover over a week, with a 20 % rise until $ 7,850.

 

At this moment, Bitcoin’s price moves around $ 7,400, showing the following week’s trend. Many analysts wait for future price fall, in case the price move above high - $ 7,000 levels.

 

Many data sources show that we will enter a bull period. In the inverse price chart, there is a trending line over the last 6 weeks, showing that the price could reach $ 8,500, a fact for a 15 % rise (within today’s price).

 

Another data source indicating the price’s rise is the metric of Market Value to Realized Value, where at this moment is moving towards 1. Over the next weeks, we will find out the trending line which will be created.