Are $ 45,000 for Bitcoin this year? Decryption of the BTC accumulation behavior
Are $ 45,000 for Bitcoin this year? Decryption of the BTC accumulation behavior
Bitcoin has increased by 80 % this year. After a promising start to this week, the world's largest cryptocurrency was able to gain a foothold again at $ 30,000, but the bears were able to quickly intercept and recently pressed the price underneath.
While the rally may have stalled near this psychologically decisive threshold, its previous strong market performance is in a blatant contrast to 2022, which essentially indicates that a favorable change of regime is underway.
It is even more important that BTC whales continued to show an aggressive accumulation trend.
accumulation spree
After a month-long dumping frenzy, WAL addresses with 100-1,000 BTC are again in the accumulation game. Corresponding to
The analysis states that the shift in accumulation behavior after the catastrophic decline in the Terra ecosystem token was striking last year. After this event, the retail participants accelerated their “absorption” of BTC and managed to increase their relative share of the circulating offer by 1.78 %. This accumulation trend will make a decisive contribution to making Bitcoin maintaining the rally for longer. So far, Bitcoin has significantly exceeded traditional risk systems such as the technology-heavy NASDAQ index. The crypto asset could be ready for profits if the pattern continues. Industry experts believe that Bitcoin is pursuing its increase in early 2019, and prices could reach a maximum of around $ 45,000 in May. In his latest report K33 Research that the Drawdown and relaxation cycle the Baisse 2018-19 in terms of length and course is remarkably similar. While a 1-1-mirroring of the current drawdown may not come about to earlier Drawdowns, the similarity to the 2018's Drawdown is amazing, according to the analysis. "While the story should not be repeated in a similar way if the fractal valley continued, BTC would reach its maximum around May 20th at $ 45,000." The Senior Analyst of K33, Vetle Lunde, noticed that the increase in Bitcoin has had all the signs of a "hated upward movement" since the beginning of the year, which he described as "a rally, in which the owners were reduced after a highly traumatic year in which the risks of the investors were reduced, under exposed to further downward movements." The hated rally from 2019 ended with a "clear blow-off top" before the flagship crypto resumed with a decline of 40-60 % compared to its all-time high from 2017. . sell in May and go away?