Forex and Crypto News

Each monthly minimum of Bitcoin leads to an increase in price

13:23 05 September /2019

In the community, analysts say that Bitcoin needs a pullback before a new rally. In this way, the coin is consolidated with subsequent support at the updated fundamental positions.

Over the eight months of 2019, BTC tests monthly lows and then moves on to growth.

The largest digital currency monthly tested the minimum values. Moreover, as a rule, rollbacks occurred closer to the end of the month, and already at the beginning of next month, we observed the consolidation of the cryptocurrency with its subsequent strengthening. At the end of the 30 days, the dynamics repeated.

Between January and March, the pullbacks were small, and we did not observe significant strengthening. But since April, monthly growth has become more impressive.

If at the end of April the coin was trading at $4097, then in August Bitcoin tested at least $9321. The expert concludes that the more significant the rollback, the more significant the BTC spurt will be.

These movement dynamics signals that Bitcoin is gradually gaining ground in the market and is becoming an attractive asset.

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