Skip to content

Bitcoin’s average annual price approaches the all-time high of over $ 9,000 before halving

May 2, 2020

It may be that All losses due to the drop in Bitcoin price in March (BTC) have been undoneAnother price indicator, however, is about to reach a new historical maximum.

As you emphasized Yassine Elmandjra, a cryptocurrency analyst at ARK, an investment advisory firm that is about to be the largest cryptocurrency by market cap reached a new record in the annual moving average price.

Bitcoin price metrics are skyrocketing

In a tweet from May 1st, Elmandjra created a graphic that confirms the trend: Since the beginning of 2018 – the moment when it is still considered the highest moving average annual price of Bitcoin – the number has decreased and has recovered.

Bitcoin’s average annual price approaches the all-time high of over $ 9,000 before halvingBitcoin’s average annual price approaches the all-time high of over $ 9,000 before halving

In late 2018, it was shown that the lower level had been reached when the BTC / USD pair traded near USD 3,100. Now a slow rise over the course of 2019 has led to a new brand that must be achieved if the markets stay at their current level.

Bitcoin’s average annual price is close to $ 9,000 for the second time in its history.

Elmandjra caught the eye of Anthony Pompliano, co-founder of Morgan Creek Digital, and Saifedean Ammous, author of “The Bitcoin Standard”.

BTC / USD annual moving average price

Graph of the annual moving average price of the BTC / USD pair. Source: Yassine Elmandjra / Twitter

What information comes from the daily price of Bitcoin?

Despite the continued strong performance, not everyone believes that Bitcoin’s pricing behavior is particularly relevant when deciding whether to buy the cryptocurrency or not.

Mark Yusko, CEO of Morgan Creek Digital, argued in a CNBC interview in September 2019 that is currently spreading on social media Nobody should consider selling your Bitcoin.

“All indicators of the network and the value of the network are increasing;; The price of an asset fluctuates, “he said.

Yusko also pointed out that The Bitcoin price hits its lowest ever year – With the exception of 2015 – but that the daily price of Bitcoin “doesn’t matter”.

In the meantime, he doubled his position in Twitter this week every time Yusko wrote:

Profits are always made when #BuyWhatIsOnOffer. #Bitcoin daily price is noise, focus on the sign of growing acceptance and positive fundamentals.

Do not stop reading:

Receive Breaking News !

Install
×
Enable Notifications    Ok No thanks