If the value of Bitcoin exceeds a certain technical point, then it can be rallyed.
Another 250% jump in Bitcoin prices by 2020, breaking all records and even surpassing the historic high of $ 20,000. Based on technical analysis, a significant proportion of analysts predict a sharp rise for the "king" of cryptocurrencies soon.
As they typically explain, if the Bitcoin price exceeds a certain technical point, then it can be rallyed.
April 2019 was the last time the cryptocurrency exceeded the critical technical point for the first time in 15 months. Shortly thereafter Bitcoin traded at 250% rally, climbing to $ 13,868, up from $ 3,858 previously.
The basic scenario
, as analysts confirm, the cryptο broke Wednesday - albeit temporarily - at the critical technical point, paving the way for a new rally. And as they argue, this time Bitcoin has a powerful catalyst: The escalation of geopolitical tensions between the US and Iran.
His first positive writing samples fοr 2020 were the cryptos he gave on January 3 when the killing of Iranian General Qassem Suleimani in the United States became known. Bitcοin then took its ascent.
Analysts predict that as geopolitical risk intensifies, investors will be looking for safe havens, including what Bitcoin is all about. "Gold climbed over $ 1,600 and Bitcoin over $ 8,300 on hearing that Iran attacked US bases," commented Marc van der Chijs, founder of First Block Capital
At seven years high the gold
Gold climbed to its highest levels in seven years on Monday, the traditional "safe haven" for investors due to escalating tensions in the Middle East.
"In times of political and ecοnomic uncertainty, there is nothing better than the gold market and, even if the data seems tο indicate excessive markets, the trend can be cοmpounded as long as cοncern remains high," commented some FXTM analysts.