Many analysts argued that Bitcoin will grow extremely this year. So far the opposite is true. Over the past month, he has seen one of the biggest sales in history. From $ 10,000 in a few hours fell to $ 3800.
It should be noted that it is still very early to evaluate this year. It’s just the beginning of April. There is still a possibility that Bitcoin will surpass its current ATH in the coming months. Although it may seem that Bitcoin is a dead cryptocurrency, he always recovered and proved himself strong. Those who were patient and endured were rewarded with a beautiful profit.
Will Bitcoin also get a chance during the global recession? It is Possible!
What about planB?
PlanB analyst continues to argue that BTC halving will greatly help Bitcoin to achieve the new ATH. PlanB determines possible price developments based on the creation / release of new coins and current volumes.
So #btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May? pic.twitter.com/2pkCgOSAEN— PlanB (@100trillionUSD) April 4, 2020
Based on this plan, BTC is expected to reach $ 70,000 soon. There is no doubt that there is sufficient capital among cryptocurrencies, especially in stable coins, to reach the BTC. However, when the biggest players decide to enter the market “all in” is unknown and difficult to predict.
What if an even bigger crisis comes?
The deepening of the current crisis can easily contribute to further price growth. If investors start selling stocks and indices, they are highly likely to show an interest in buying an alternative asset. Bitcoin can get better in the coming weeks.