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Bitcoin is ready for a big step

June 16, 2020

Despite having different price expectations, three major crypto ecosystem analysts agree on one thing:

The charts show that Bitcoin is ready for a new upward cycle.

This is the position of CryptoBirb analysts Edward Morra and Cantering Clark.

Bitcoin is ready for a big stepBitcoin is ready for a big step

So, according to the three experts, Bitcoin’s strength in holding its price above $ 9,000 for more than a month shows an upward trend.

CryptoBirb

For cryptanalyst CryptoBirb, the fact that Bitcoin has been trading in this area for over a month shows the strength of BTC.

This shows the consolidation of the market.

And to show his optimism about the rise of BTC, he explained that his positions were long-term and only pointed upwards.

“70% of my BTC stakes are long-term, so I get regular earnings as we grow,” he said.

Edward Morra

Strategist Edward Morra emphasizes that BTC volatility has returned to the level it had before the cryptocurrency collapse in March.

According to him, the graphics show a lot of movement.

Even if, This move can drive both a bullish and a bearish move.

For the trader, however, the move may well indicate an upward trend as it matches other factors such as the recent halving.

Galloping Clark

Trader Cantering Clark agrees with Edward Morra’s views on Bitcoin’s volatility.

For him, BTC’s low volatility paves the way for an explosive move.

“All I know is that given Bitcoin’s low perceived and implied volatility, we’re undergoing a major change in every direction that should be followed for a good period of time.”

In contrast to her colleagues You don’t risk telling where the BTC price is going.

According to him, the market sentiment is positive.

volatility

On the volatility of Bitcoin earlier this month, Kraken released an analysis that predicted high volatility for BTC in the coming weeks.

After a new weekly bear candle, Traders fear a terrible withdrawal to $ 7,000

The report found that Mempool transactions are increasing.

According to the exchange, this suggests that an increase in unconfirmed transactions is an indication of a major movement in the network and a period of greater volatility.

At the time of writing this article Bitcoin’s price rose 1.14%, bringing BTC closer to $ 9,500.