Bitcoin News: Many analysts are making various predictions as the Bitcoin (BTC) price is stuck in one area. The notable ones of the analyzes are based on various researches, graphs and years of experience. The analysis we will focus on in this content focuses on Bitcoin’s price action at this time last year. He claims that BTC is about to start a parabolic uptrend.
Bitcoin was calm over the weekend. The day’s close was at $31,778. We see that it moves at the same price in the morning hours. Selling pressure prevails in the market and BTC continues to resist amid fears that sellers will drop the price of Bitcoin below $30,000. Volume fell 12 percent. Other measurements can be said to have remained stable.
Yes, Bitcoin has lost more than 50 percent from its highest value. However, last year it is in a much better condition than this time, because last year its price was around $ 9,100. The prevailing view at that time was that it would fall even more.
Twitter celebrity CrytoKaleo, on the other hand, recalls last year and seems convinced that BTC will rise despite the overall bearish outlook.
“July 20 could be a fresh start for Bitcoin (BTC)”
CryptoKaleo recalled that the period from July 9 to July 20 was particularly bearish as Bitcoin seemed to be stuck in a range. However, as of July 21, its fate changed and it started to rise.
The trader believes that “it is often harmonious,” although he reminds us that history does not always repeat itself in the same way.
This isn't to say that history mirrors itself perfectly, but it often rhymes. pic.twitter.com/mALO5C09lm
— K A L E O (@CryptoKaleo) July 12, 2021
CryptoKaleo, the only one in the market, does not say that BTC is on the way to recovery. Yet another popular Bitcoin and Litecoin trader and analyst claims that crypto will head towards $300,000 by the end of this year.
According to the trader, who also operates Bitcoin and Litecoin resources, Bitcoin finds support at the 1,618 Fibonacci level every four years, especially in July.
There are those like Blockchain analyst Willy Woo, who point to his ever-increasing individual presence in the industry as the basis for his belief that a bull market is about to begin.
Chart: Weekly net flows to small holders (of less than 1 BTC).
It's retail that drive Bitcoin bull markets. When they stop buying, that's a bear market warning. They haven't stopped buying.
Last 30 days: Whales sold 4k BTC, plebs bought 31k BTC
— Willy Woo (@woonomic) July 17, 2021