Bitcoin (BTC) re-entered a recovery process after the historical collapse on March 12, and rose to the $ 7,300 level. Bitcoin, which has tested the $ 7,000 level several times before but has experienced sharp returns, this time managed to stay above the resistance level.
The leading crypto asset traded at $ 7,270 as of writing is trading at 20% more than its $ 5,900 level last week.
In a process where there is a global economic crisis due to the Covid-19 epidemic, Bitcoin's recovery in this way is very important for the future of the leading crypto asset. The number of unemployed people reported last week due to the epidemic in America is 6.6 million. In such a difficult process, the performance of Bitcoin will contribute greatly to its global acceptance and potential increase.
What's Next for Bitcoin?
Analysts state that the long-awaited rise may begin, given the recent movements of Bitcoin, which has rapidly recovered the collapse on March 12.
An article published last week in Bloomberg stated that the DVAN Buy and Sell Indicator gave a positive buy signal. BTC had shown this trend most recently when it rose from $ 7,000 to $ 10,500 in January. The same indicator predicted the downward trend of Bitcoin in February and gained confidence in the markets. Now, the indicator marks a new uptrend for Bitcoin.
On the other hand, Bitcoin analyst Filb Filb, who accurately predicted the orbit of Bitcoin in the 4th quarter of 2019 and in January 2020, said that on the Telegram channel, Bitcoin is in good shape in terms of trend and volume and it is $ 8,150 in the coming days. stated that we will see the level.
Crypto asset analyst Willy Wo said in a statement that mining indicators signaled a new bull run signal for Bitcoin. Stating that there is an improvement in the Hash rate for Bitcoin, Wo said that we will witness the rises in a short time.
