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Capriole Investments analyst, Charles Edwards, drew attention to the presence of indicator signals that predict the growth of the first cryptocurrency rate. In his opinion, another confirmation of the further BTC positive movement will appear if the asset closes the day at the level of $ 9,230. According to the expert “the post-halving signal is particularly special.”
Signal confirmed:https://t.co/8ubMHfMplr
— Charles Edwards (@caprioleio) July 13, 2020
Other analysts agree with Charles Edwards’s forecast. Thus, trader Cole Garner published on his Twitter a Bitcoin chart with a “buy” signal.
At the same time, members of the crypto community keep waiting for Bitcoin to grow against the backdrop of the implemented halving.
According to a tweet published by a well-known analyst in the crypto community, PlanB, the first cryptocurrency entered the fourth epoch at 9,250 level.
9,000 blocks into the 4th epoch, #bitcoin at $9,250
3rd epoch $8,572
2nd epoch $638
1st epoch $12 pic.twitter.com/Y43z4yWHtV— PlanB 🔴 (@100trillionUSD) July 13, 2020
Recall that PlanB is known in the crypto community as the creator of the S2F model for predicting the behavior of the BTC rate.
Despite the positive forecasts of the further movement of BTC, the majority of PlanB microblog users do not see any prospects for the growth of the cryptocurrency rate to the maximums indicated by the analyst. About half of the 26,639 people who took the vote believe that the asset will not be able to exceed the level of $ 55,000 during 2020.
In order to see the prospects for the movement of an asset, users analyzed the reaction of its course to previous decreases in the level of remuneration for mining. The estimated BTC trajectory on the chart is indicated by the blue channel. According to this channel, cryptocurrency can move into active growth in the near future.
Source: Twitter.com
The lack of active movements in the BTC rate led to a significant decrease in the level of cryptocurrency volatility. According to analyst Josh Rager, this figure may rise in the near future. He proposes users “Put their seatbelt on.”
Bitcoin historical volatility (HV) nearing 40$BTC volatility this low has historically led to major price action between 30% to 60% movement in the following weeks
From current price:
30% move to the upside is $12,200
30% move to the downside is $6,500Put your seatbelt on pic.twitter.com/ERzWudn547
— Josh Rager 📈 (@Josh_Rager) July 12, 2020
Note, that the week began for most cryptocurrencies from the top 10 CoinMarketCap capitalization rating with a drop. Bitcoin is currently trading at $ 9,253. During the day, the first cryptocurrency lost 0.11% of its value.
Amid the decline in the BTC rate, the composition of the participants in the TOP 10 Coinmarketcap rating has changed. Chainlink cryptocurrency has entered the TOP-10 with a daily growth of 24,80%. This coin has replaced another member of the TOP-10 – Crypto.com Coin cryptocurrency.
Recall that earlier, Weiss Crypto analysts revealed 3 reasons for Bitcoin’s rapid growth, among which are users turn to BTC as a safe haven, since the government is actively printing paper money; institutional interest in BTC is growing; as well as an increase in the S2F model.