The cryptocurrency community believes that the bull market is likely to have arrived.
On April 23, Bitcoin overcame the level of 5.6 thousand dollars, forcing him to talk not only in the context of “whether it will continue to go up and what minimums should we expect to rebound lower,” but also about what happened, what the market has not seen since 2015.
From the point of view of technical analysis, the price of cryptocurrency showed a “golden cross”, that is, there was an overcoming of the levels of average median values of cryptocurrency for 50 and 200 days.
Golden Cross Forms on Bitcoin for First Time Since 2015 Major Indication of in Etpu Start of Bull Market from r / CryptoCurrency
This fact was confirmed by analyst Alex Kruger:
Good stuff. Golden cross and all. $ BTC pic.twitter.com/KX3LKkyFKv
– Alex Krüger (@krugermacro) April 23, 2019
The achievement of such a figure on the chart may indicate the end of the “bear” cryptocurrency market, as stated by eToro expert Mati Greenspan:
Ladies & Gents … The Golden Cross!
Bitcoin's 50-day moving average (gold) crossing above her 200-day moving average (blue). ?
This is yet another sign that we’re back in a?market. ?? pic.twitter.com/VK1PSsOYIB
– Mati Greenspan (@MatiGreenspan) April 23, 2019
That rollback is unlikely, according to Willy Wu and several other analysts .
So far, there is no reason to say that any one trader is pushing the market up again, although in early April, most likely it was. Meanwhile, the season of altcoins, that is, the possibility of earning on digital assets other than bitcoin, began even earlier.
The $ crypto bull run has already started.
Prices since last year: $ RVN : + 387% $ ENJ : + 382% $ BNB : + 303% $ HOT : + 188% $ BAT : + 173% $ LTC : + 157% $ IOST : + 122% $ ONT : + 111% $ BCH : + 87% $ ADA : + 82% $ NANO : + 81% $ LINK : + 72% $ VET : + 71% $ ICX : + 57% $ BTC : + 37% $ NEO : +36 % $ TRX : + 32% $ ETH : + 24%
– The Rhythm Trader (@Rhythmtrader) April 21, 2019
An important role is played by the intensification of interest in cryptocurrencies in South Korea, and they are already bought, mainly not by millennials, but by people of pre-retirement age.
Meanwhile, Alex Kruger believes that the rollback is possible, and he will be very painfully perceived, especially if it happens after overcoming the resistance level in the region of 6 thousand dollars. Even leaving Bitcoin to the level of 4 thousand dollars can cause panic sales, but in the end the market will still go up again.
It is worth noting that, according to estimates by Adamant Capital , finding Bitcoin in the corridor of 3-6.5 thousand dollars is a preparation for a really serious rise in the future.
Publication date 04/24/2019
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