Bitcoin shifts to a parabolic bullrun. Waiting for a new high

Looks like Bitcoin is finally finished with a bearish trend that continued through 2018. Analysts now believe that the largest cryptocurrency has reached the bottom level of 3200 dollars. Chief expert social trading platform, eToro’s Mati Greenspan shared his impressions about the current situation on the market.

Mati Greenspan is optimistic

As he said during an interview with Bloomberg, Bitcoin has overcome the negative trend and is now coming to the phase of parabolic growth. Greenspan focuses on the fact that the behaviour of Bitcoin has always been cyclical. And after every big crash, we watched the whole 2018, followed by proportionate growth. On the question of possible reasons for the recent sharp rise in Bitcoin price, he again reminded about the cyclical behavior of the coin.

Actually, the reasons can be many. As one of the assumptions we are now experiencing a small fragment of another larger cycle. Up to this point Bitcoin has already gone through several major cycles. We are talking about a whopping 10-15 thousands of percent in a short period of time.

However, according to the Mother, the investors ‘ optimism is fueled not only by technical analysis. As fundamental examples he lists Microsoft to use the Bitcoin blockchain to protect their customers ‘ data. As well as decisions of other international companies, Starbucks and Whole Foods is about taking payment in BTC. This became possible thanks to application integration Spedn.

Greenspan relies not only on Bitcoin. He also analyzes other kryptering. In mid-March, the expert declared the beginning of the season altcoins 2019. About that time the daily trading volume of Litecoin, EOS and BNB has grown more than three times.

In our cryptodata there are still a lot of other useful information.

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