When is Bitcoin at its highest (When does Bitcoin start to rise)?

When is Bitcoin at its highest? When is Bitcoin at its highest?

In the bear market of 2017, interest in digital currencies surged. However, when investors started paying attention to the price, a strange idea emerged: will they buy and hold? Does this mean the price of Bitcoin has reached its peak? Why does this happen?

According to historical data, from January 2017 to May 2018, the price of Bitcoin rose by more than 50%; however, as time went on, its growth rate slowed down.

So, the question arises, is Bitcoin currently worth buying or not? The answer lies in price fluctuations. And this psychological factor determines the growth of the price.

Therefore, we can assume that Bitcoin is either overvalued (or at least believed to have a high return) or it is “too low”?

In fact, if Bitcoin can maintain a steady appreciation in the long term, its market value and demand should continue to increase. As Bitcoin becomes more popular, its price will continue to rise. And due to the existence of many speculators in the current market, some people are betting on this currency and investing their funds in a project to make money. However, it is precisely because of this that this phenomenon occurs. When is the high price of Bitcoin?

First, let’s understand the recent market situation:

After breaking through $20,000, Bitcoin surged to $29,000. This is the first time it has touched this level since 2016, and then quickly fell. It then returned to oscillating above $19,200.

However, by the end of 2019, although Bitcoin had not effectively broken through the $20,000 resistance level, it had repeatedly challenged the previous highs in the past year.

Here is a recent market analysis:

Bitcoin continued to rise after reaching over $200,000 at the end of 2018. As of the time of writing, it has doubled and is close to 36,000 points, and it is still further narrowing, indicating that people’s enthusiasm for Bitcoin has not diminished, and it seems that many people are entering the bull market. Of course, not everyone thinks so, just like the first half of this year, most people missed some opportunities since the first quarter of 2020.

Secondly, there are no major variables in the current sideways consolidation. For example, in the recent trend, Bitcoin reached the $20,000 mark in mid-October 2017, with the price of Bitcoin at that time equivalent to about 16,600 yuan. In this morning, it even exceeded $30,000.

When does Bitcoin start to rise

When does Bitcoin start to rise? Today is Friday, if you pay attention to this time, you will know what stage Bitcoin is currently in.

Let’s take a look at the recent market situation:

Bitcoin started to rise from yesterday afternoon and reached a peak of around $10,600, but due to the previous continuous decline, the price has been unable to break through the support line of the uptrend, so the market sentiment is relatively negative, followed by a sharp decline. After 7 pm in the evening, Bitcoin started another round of pullback, and the lowest point is now $10,000; then there was a small rebound and it started to rise again, hovering around $11,000; but after a round of sharp decline the day before yesterday, there was no decent rebound. Instead, it continued to maintain the upward trend, and the overall volatility range has approached zero. So, how to grasp the increase in this round next?