Over the past few weeks, Bitcoin has entered an uptrend due to the increased interest shown. For Bitcoin, which has increased by 5% in the last 24 hours, analysts commented that it will continue to rise in the coming days.
John Bollinger, the legendary technical analyst who created the Bollinger Bands technical indicator, commented on Bitcoin:
“Apparently I was wrong about the chance to fix, all we got was some consolidation and then back to the race. Setups like this for BTC / USD are signs of power. Therefore, the resistance line currently forming is higher. ”
The analyst has recently made very accurate comments on the short and medium term pricing of Bitcoin using his indicator. Looking at its past accurate comments, Bitcoin may continue to rise in the coming days.
Institutions Turn to Bitcoin
Continuous institutional inflows to Bitcoin can continue the bullish trend. Skybridge Capital, an alternative wealth investment fund run by a former White House official and Vice President of Goldman Sachs, recently wrote:
“Digital assets, including but not limited to Bitcoin, are assets that are given and / or transferred using technological innovations such as distributed ledger or blockchain technology.”
This comment referred to the intention to buy cryptocurrencies and to buy stocks on cryptocurrency exchanges.
It will be $ 300,000 next year
Other underlying trends will push Bitcoin further in the coming weeks. Citibank analyst Tom Fitzpatrick recently said of the Bitcoin bull in a world of massive monetary and financial incentives:
“Bitcoin moves easily across borders and has a non-transparent ownership structure. This last point I mentioned is very important. The great financial deterioration of today will have some direct and indirect consequences in the future. Its direct consequences are that “the bills have to be paid”, which means you have to find money somehow.
Fitzpatrick thinks the cryptocurrency could reach $ 300,000 next year.