Investors believe that the growth phase is slightly…

Investors believe that the growth phase is slightly… post thumbnail image

Many members of the crypto community believe that BTC precedes the maximum value update.

The most capitalized cryptocurrency – bitcoin – started the last day of the five-day period with a sideways movement. At 08:00 (Moscow time), the digital asset was trading at $47,923. The bitcoin minimum value in 24 hours, according to the CoinMarketCap resource, is set at $47,529, the maximum at $49,425.

bitcoin chart. Source: TradingView

Against the backdrop of bitcoin’s sideways movement, many members of the crypto community decided to share their predictions for BTC.

Analyst Lark Davis believes that cryptocurrencies are in an energy storage phase. From a technical analysis point of view, the period is expressed by a long sideways movement of the asset. Lark Davis believes that bitcoin will be able to continue its growth once it returns to the $53K level.

In the Twitter channel Whalemap, which monitors the activity of large investors in the cryptocurrency market, they paid attention to the difficulties that BTC may face if growth continues.

The microblogging author believes that bitcoin sales are possible at a height of $64 thousand. Whalemap explains their forecast by the fact that many big investors are buying at these levels. If the cryptocurrency returns to the specified high, they can, to hedge the risk, sell some of the BTC.

The author of the Twitter Root channel also sees the growth potential of BTC. This, in their opinion, is shown by the analysis of bitcoin’s movement after the previous halving. As a reminder, the last half of the BTC mining reward was recorded in May 2020. Such a change, due to the formation of a shortage of cryptocurrencies in the market, can positively affect its value.

Root draws attention to the fact that the previous phase of bitcoin’s positive move after the halving ended with a parabolic rise in the level of the digital asset. In their opinion, history will repeat itself in front of BTC.

Many members of the crypto community are also paying attention to indicator signals, which indicate the possibility of bitcoin rising in the near term.

At the same time, investors believe that BTC is at risk of continuing to move sideways until the end of the month.

Meanwhile, the bitcoin Fear and Greed Index is in the red. The position of this indicator shows that currently most investors do not consider BTC a promising asset for investment.

More forecasts for bitcoin are in our material.

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