The Bitcoin price has recently risen above the $20,000 mark again. Bitcoin prices along with other altcoins have been moving in a sideways trend. Today, most cryptocurrencies including Bitcoin rose as high as 7% since last week. Is the new bullrun finally coming? Let’s analyze in this Bitcoin Price Prediction article.
What happened to Bitcoin Today?
After a long period without strong increases, the Bitcoin price surged above the $20,000 mark yesterday. The price broke out of the range between $19,000 and $20,000, in which the Bitcoin price has moved almost exclusively in the past few weeks.
In the last few days, the Bitcoin price has been more at the $19,000 level. The increase came about within just 1-2 hours and the Bitcoin price was able to rise above 20,300 dollars. After this surge, the price continued to rise to reach the current price of around $27,700.
Why could a bitcoin surge be likely in the near future?
In the last few weeks, the Bitcoin price has almost exclusively seen prices in the $19,000 to $20,000 range. Such stabilization and a “boring market” caused many investors to slowly lose interest in the crypto market. However, a long period of stabilization, especially in such a narrow corridor, means that a large price move could be imminent.
An increase is not excluded as external factors are developing favorably for Bitcoin and the crypto market in general. Interest in government bonds is falling again and risk investments such as cryptocurrencies could become interesting again for investors. Furthermore, the prices of the cryptocurrencies were able to stabilize, although the prices of the shares have fallen.
Where to Buy Bitcoin?
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Bitcoin Price Prediction – How high can BTC price go?
In the last few weeks, we have seen prices stabilize within the bear market. After the first 6 to 8 months, when the prices rose massively, we have now reached a phase in which the prices remain at a low level without seeing any further losses. We may have already seen the low for the Bitcoin price in the bear market.
A breakout from the previous stabilization could actually lead to us seeing stronger price increases again. Because after the stabilization phase in the bear market, the last Bitcoin cycle was followed by a phase in which prices rose again. In 2019, after the Bitcoin low, we saw the price triple.
How high will Bitcoin go in 2022?
In the coming weeks, a first increase in the Bitcoin price is quite possible if we can break through the upper resistance and thus enter a volatile phase again. This would make the Bitcoin course rather bullish.
A move towards $30,000 could still be realistic in 2022. For that to happen, we would need to see a clear breakout in price over the next few weeks. However, lately, we have seen Bitcoin bounce off the top of resistance time and time again. The next few days will therefore be exciting.
Is it worth investing in Bitcoin now?
A larger Bitcoin increase is quite possible in the next few weeks. Regardless, we should be at the bottom end of bitcoin prices in this bear market. An investment in Bitcoin should therefore be worthwhile, at least in the medium to long term. The year 2023 could already see stronger increases where we surpass the current price ranges.
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Source: https://cryptoticker.io/en/bitcoin-price-above-20000-new-bullrun-finally-coming/