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Bitcoin shows a green signal on the price charts and is moving at a faster pace. The price of the token is holding at $50,000 points currently which can move at a much faster rate by the end of the year. The weekly MACD delivers six-month gains of 450% the last time bitcoin flipped into bullish territory.
Bitcoin is showing the bullish trend once again and with a major jump as it wows the market by holding $50,000 points. This bullish metric is indicating much larger potential gains in the time to come. It is the time to rejoice and make the best use of the token for the Bitcoin holders.
As per the data by TradingView the weekly average convergence/divergence (MACD) indicator of BTC/USD has shifted from red to green. This green signal is a signal of hope, anticipation and joy for the people who have been worried about the token a few days ago.
Bitcoin to take another leap
It is time for Bitcoin to take another leap of 5.5BTC price surge. There will be no shortage of bullish BTC price indicators this month as everything shows the optimistic mood, be it from exchange balances to network fundamentals.
MACD, which has given a rare crossover in August earlier, is now looking forward to adding the potential gains in the upcoming time. It will be an order of magnitude, bigger than what the market has witnessed so far.
The index is a reliable indicator used to determine the overall trajectory of an asset, and Bitcoin is no exception. When the bullish crossover occurred last time, BTC/USD saw a 5.5X price increase. It gained from $11,500 in October 2020 to an all-time high of $64,500 just only after six months.
With the indicators showing the positive signs once again, it seems that the history will repeat itself and Bitcoin could end up at more than $220,000 by the end of the year or in early 2022.
Bitcoin rally for 2021-22
The rally for Bitcoin is going to be bullish from this year onwards. As per the experts, they predict even this year Bitcoin may touch the peak. But there is a slight hitch including stock to flow creator PlanB’s worst-case scenario of $135,000 in December.
Nevertheless, there are well-known names in the market who are very optimistic about the bitcoin rally and firmly believe in the continuing upside of the token. They are firm to the extent that they continue to go on the record in the mainstream media.
Morgan Creek, Digital Co-Founder, Anthony Pompliano said that the bitcoin rally is very bullish and there is a very fast appreciation happening through the end of the year. In 2017, the prices of Bitcoin jumped from $10,000 to $20,000 in just 18 days as a blow-off from the top. Hence, it would not be surprising to see if something like that happens before the end of this year.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
