Bitcoin (BTC) was able to hold over $ 50,000 for a long time. That made a big impression on the market, but one very positive indicator predicts that there could be much bigger gains.
TradingView’s data now clearly shows that the weekly MACD for the BTC / USD pair has transitioned from red to green.
Another 5.5-fold increase in the BTC price?
This month, many indicators are very optimistic with regard to the Bitcoin price: from the stock market balance sheets to the fundamentals of the network, all indicators are positive.
The MACD saw a rare crossover in early August. This indicates that the coming price gains could turn out to be significantly greater than the market has experienced so far.
As Cointelegraph reported, this is a reliable indicator for determining the general performance of an asset. Bitcoin is no exception so far.
The last time there was a bullish crossover, the BTC / USD pair rose 5.5 times. At the time, it rose from $ 11,500 in October 2020 to its all-time high of $ 64,500.
Should history repeat itself, Bitcoin could hit over $ 220,000 by the end of the year or early 2022.
Pomp believes in new Bitcoin “blow-off top”
This forecast even exceeds the most optimistic estimates for the second half of 2021. This includes the “worst-case scenario” by PlanB, which in the worst case expects 135,000 US dollars by December.
In this context, new data point to “Double Bubble Top” for Bitcoin in 2021
Even well-known names continue to believe in an upward trend. They make that very clear in mainstream media too.
“I cannot repeat it often enough: I think that we will see a very, very rapid price increase by the end of this year”, says Anthony Pompliano, the co-founder of Morgan Creek Digital, told CNBC on Monday.
“In 2017, Bitcoin went from $ 10,000 to $ 20,000 in 18 days. I wouldn’t be surprised if something crazy like this happened again before the end of the year.”
Bitcoin is currently over 20 percent up over the month.