Market Analysis: Bitcoin Price Will Rise

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Bitcoin has been consolidating around the $1 trillion market capitalization threshold for almost three months, which is a very healthy development during a bitcoin bull market. So, what’s happening behind the scenes, and how should investors be thinking about the recent price action of bitcoin?

Let’s dig in.

A deeper dive into bitcoin’s fundamentals and recent market trends shows that the price bull run is nowhere near its top.

BTC price action over the last three months 

Long-Term Trend Still Clear: Bull Market Far From Over

While it is true that at the time of writing BTC is trading at a price it first saw 75 days ago, there is absolutely nothing to be concerned about in terms of the fundamentals and long-term outlook of the monetary asset. Many market spectators have been quick to call it a “top” because of the speculation occurring in the illiquid altcoin markets, but this is a shortsighted take that does not take into account the empirical data. New entrants and capital are entering the market every single day, and the fixed monetary policy of Bitcoin remains consistent.



Source link Bitcoin Magazine

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