фото показано с : zycrypto.com

The latest spike in the price of Bitcoin (BTC) is driving a positive sentiment among investors. Market analysts forecast the continued rise and a possibility of the price peaking at $45,000 next month, thanks to an improving macroeconomic environment.

Senior analyst at K33 Research, Ventle Lunde, says that BTC is closely moving in line with trends last seen at the start of the 2019 price surge, with a possibility that the value could peak at the highest level year-to-date next month. This year, the digital asset has jumped about 80%, beating other risk assets like the Nasdaq index.

In contrast, according to the K33 Research analyst, the upsurge was preceded by a year-long downward momentum last year, similar to what was seen in the 2018-2019 bear run, factoring in duration and the movement of the prices.

‘‘Bottoms in both cycles lasted for approximately 370 days. And the peak-to-trough return after 510 days of both cycles reached 60%,’’ Lunde said in the report shared with Coindesk. ‘‘While history is far from likely to repeat similarly if the fractal was to continue, BTC would peak around May 20 at $45,000,’’ he said.

The optimism around bitcoin comes amid a slowdown in the US inflation in March, which signifies a potential upsurge in the uptake of digital assets, according to Marat Minkin, founder of DeFi app TONBanking. Similar views were shared by Ark Invest’s Cathie Wood, who opined last week that the volatility in the US economy was pushing the adoption of cryptocurrencies.

Also driving the bullish forecast in the bitcoin price is the sentiment around the just concluded Shanghai upgrade in the Ethereum network, which opened withdrawals for the staked ether, among other improvements, says Minkin.

Ethereum (ETH) and Cardano (ADA) are in consolidation following a week-long price surge. At the time of writing, ETH was changing hands for $2,076, a price change of -2.02% in the past day and 11% in the past week, while ADA is down 2% in the day from a 13% gain in the last seven days. On the other hand, Solana’s SOL is up 5% in the past day, consolidating weekly gains at 24%, perhaps driven by the launch of Saga, an Android smartphone integrated with the Solana network.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

206 +