The cryptocurrency market awaits another Bitcoin halving. Many investors ask whether its price is already part of today’s price list.
First, there were a number of predictions that Bitcoin would fire over $ 20,000. With the last correction, however, sentiment has changed again and shows rather signs of bear. Dear analyst Joseph Young thinks that Bitcoin before the halving did not say his last word.
Joseph Young: forecast for Bitcoin is positive
The cryptocurrency market is experiencing turbulent moments. Another bitcoin halving is driving large capital into the industry and everyone expects the price to rise. Nevertheless, the cryptocurrency is experiencing tens of percent corrections. Young comes up with a contradictory idea and defends the cryptocurrency.
Over the past three months, trading volumes in large cryptocurrency exchanges have increased rapidly.
The spot shift on Binance jumped from 240,000 BTC to 468,000 BTC. The BTC / USDT pair almost doubled. New money is still entering the market, even if the price is falling.
Grayscale Digital Currency Group creates additional investment funds for cryptocurrencies. Both ETH and BTC are traded and the price of one share is much higher than its equivalent in cryptocurrency. This means that big investors will pay more if they expect huge profits.
Last but not least, Bitcoin is mined more than ever. Similarly, addresses have jumped from 350,000 to 500,000. There is growing interest in cryptocurrency.