During the previous hours, the price of bitcoin began to increase in the main markets and is currently around 5,500 dollars per coin.

During the last month, the price of BTC has experienced moderate gains. In the last 30 days, according to the OnChainFX portal, its value has grown 39%.

Among the causes of this behavior, the disclosure of the opinions of various analysts, who agree that the bitcoin bear market has reached its lowest point and are optimistic with the future commercial development of the cryptocurrency, can be noted.

As seen in the graph, the BTC value began to increase around midnight (UTC -4). This may be due to movements in the Asian markets, which handle a large part of the exchange volume.

Something that Adamant Capital analysts highlight is that volatility has decreased considerably. However, shortly after today's increase, investor Alistair Milne, of Altana Digital Currency Fund, pointed out that this movement indicated the beginning of a golden cross for bitcoin.

According to Investopedia, a golden cross is a graphic pattern in which a short-range average crosses a long-range average, indicating a long-term bullish movement.

Although one can not predict how the crypto market will behave, many agree that the price of bitcoin will continue to rise, which can inspire confidence in investors and increase the movement of the cryptocurrency in the exchange houses.

Featured image by Antonio / stock.adobe.com