Bitcoin Touches Above $12.9k Highest Mark in 17 Months
Bitcoin is growing again. Constant sales volumes have allowed Bitcoin to soar up to $1,200 over the past 17 months.
Since 2018, Bitcoin has not risen so high according to CoinDesk’s BPI data.
Bitcoin continues to show good growth results, an increase of 40 percent only in June, while its annual growth has increased by more than 250 percent. This data is hosted by Messari.io.
It is important to note that experts according to the developed graphs and the Fibonacci extension theory predict that $12,000 is just the beginning. Bitcoin is expected to increase to $13,100.
Analyzing recent volatility Bitcoin not excluded that may occur short-term growth to 12 US $500. Such an opinion can be reached on the basis of liquidity levels that are currently entering and leaving the markets in an accelerated sequence.
Based on TradingView's weekly schedule, interesting details are viewed, so based on the key levels of Bitcoin will be in the range of $11,500. The total amount of Bitcoin to be sold is $11,500 and $13,700, respectively. So if the Bitcoin becomes higher or lower than these levels, it will be possible to determine the direction of the trend either to increase or decrease its price.
The above mentioned also results from the fact that since the beginning of the new year there has been a strong support for the weekly volume (except for March). This is a good sign for bulls, as the movements are supported by strong liquidity and buyer pressure.
As a result, we see that:
• Bitcoin has risen above $12,900, which is a breakthrough over the past 17 months.
• The latest indications are that Bitcoin will reach $13,700 due to a strong bullish momentum.
The average trader will face an extreme level of volatility, which will certainly tighten the trading conditions.