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Bitcoin – How will things continue after the strong growth?

by | 10 Nov 2020

Since December 2017 (ATH of Bitcoin of $20,089) there has not been such a high influx of new users nor such a high change of ownership (buy – sell) as in the last days. Thus, the Bitcoin price has risen from $13,000 to $16,000 (+23%) within a short period of time. This is a serious and promising development.

Short summary:
Short term (next 2 weeks): consolidation expected, then upward trend.

Medium term (next 3 months): Investor activity continues to increase, positive.

Next 3 months: Investor activity is increasing.

The chart below shows the trend of increasing investor activity. All macroeconomic rises require an increase in the circulation speed of coins. This is just a fancy way of saying how much of the total supply changes hands and is directly related to the purchase of new investors.

The current set-up is positive in the medium to long term.

The next 2 weeks : Optimistic, but consolidation is expected.
It is expected that a significant number of investors will take profits, which will hinder an immediate rise in the price of Bitcoin. The consolidation of Bitcoin could give the Altcoins time to rise.

The price movement in recent weeks has been entirely organic, driven by significant buyer demand. This was not due to the usual hedge fund trader-driven actions on derivatives exchanges. This is very healthy and positive for the market and the price.
Stay tuned !

Source: https://willywoo.substack.com/p/the-organic-rally