Analyst: After the high at the close of the monthly candle, Bitcoin …

Analyst: After the high at the close of the monthly candle, Bitcoin usually rises by 700-1000%

Bitcoin rolled back last week, but everything still ready to set a record at the close of the monthly candle. 26 November the price dropped to $ 16,242, freeing the market from surplus margin positions. Since cryptocurrency won back more than half of the fall and at the time of publication traded above $ 18,600. This value significantly exceeds the previous maximum at the close of the monthly candle, recorded on December 31, 2017 on around $ 13,880.

Some analysts believe that today’s closure can predetermine further direction market. “Every time bitcoin closed above the previous monthly high, it followed ascending trend for 700 – 1 000% “, Says analyst Josh Rager.

In April 2017 bitcoin climbed 27%, surpassing the previous record monthly candle of November 2013 of the year with a value of $ 1,150. After of this the price has gone up in a few months before $ 20,000. A similar situation was observed in January and October 2013.

Su Zhu Co-Founder of Three Arrows Capital declares, what’s the next goal for rise of bitcoin is an mark $ 36,000. It corresponds strike price of the largest volume active positions for bitcoin options exchanges Deribit.

“People already for several years talking about Tom, that institutionalists will come to the crypt. It looks like in this year they are came. Of course, many have yet to join, “EQUOS analysts note..

Analyst: After the high at the close of the monthly candle, Bitcoin ...

Earlier, JPMorgan bank analysts wrote that the success of bitcoin in the foreseeable future will be depend on the willingness of institutions to support him.

Analyst: After the high at the close of the monthly candle, Bitcoin ...