Bitcoin price upside forecast for another 570 days

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3 weeks ago

Its previous years are more valuable in 2020 and there is a prediction of a bitcoin price increase in the next 19 months. Data uploaded by James Tudaro on February 21 on Twitter shows that Volume-Weighted Average 2020 has been the best year for Bitcoin so far.

The weighted average volume calculates the price of bitcoin for a given period as a ratio based on the trades.

According to Mr. Tudaro's calculations, for example, by 2020, the average bitcoin volume in dollars is $ 9,120. That's even higher than in 2017, when the price of the digital currency reached its historic high of $ 20,000. The weighted average volume for 2017 was $ 6,125.

Another interesting point is that, although in 2018 bitcoin spent most of the year on the downside, reaching a low of $ 3,100, the benchmark is higher at $ 7,657 this year.

Apparently, the spot price of spot trading in 2019 has been more successful, but the average weight of bitcoin volume last year was much lower than in 2020.

Mr. Todaru said of the findings: <This shows that most of the money that has ever been converted into bitcoin would have been more profitable for the dollar if it had remained bitcoin.>

Looking at the future, the data from the previous uptrend also gives us a good picture of the next one and a half years.

CryptoKea, a well-known investor and trader, has suggested that Bitcoin will continue to grow for about 570 days, analyzing the uptrend of bitcoin.

2020 has been the strongest year for bitcoin, despite an 8 percent drop in prices last week. Since the beginning of the year, this market-leading digital currency has risen nearly 35%.

During the last two periods, bitcoin's uptrend, floor and ceiling prices have fluctuated near Hawking at a relatively equal ratio. He added:

If this is true, we still have more than 570 other upside markets, and the price ceiling for this cycle will be around September 2021.

This timeline is similar to the stock-to-flow bitcoin forecasting model, which says that between 2021 and 2024 the average price volume will reach $ 100,000.

It is to be seen how accurate the forecast of future bitcoin price increases will be.

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