Will Bitcoin continue to grow – investor opinions

CONTENT

  • Not everyone is confident that bitcoin will continue its positive movement

  • Analysts Discussed BTC Growth Prospects

  • Investors shared their predictions

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On Monday, most cryptocurrencies from the top ten of the CoinMarketCap capitalization rating went up. Against the background of a positive movement, members of the crypto community presented their forecasts for the further dynamics of Bitcoin (BTC).

A popular analyst in the crypto community, the author of the S2F forecasting model PlanB, drew attention to the update of the maximum indicator of the curve, which reflects the average value of the BTC rate over 200 weeks. In his opinion, Bitcoin is currently in a growth phase. This, according to the indicators of the S2F model, is evidenced by the appeared red dots. The latter, according to the history of BTC behavior, can be considered as a harbinger of the coin’s exit into active positive movement.. 

All time high #bitcoin 200week moving average $ 6800! Time for the red and orange dots to divert from 200WMA again pic.twitter.com/18RYVJ4a8L

– PlanB (@ 100trillionUSD) October 4, 2020

According to PlanB, “the most interesting time” has begun for members of the crypto community. By this statement, the analyst probably means the growth prospects of a digital asset. The period, he believes, will end around December 2021..

The period now-Dec2021 should be interesting

– PlanB (@ 100trillionUSD) October 4, 2020

The economist who writes his blog under the nickname Krüger, in turn, criticized the S2F forecasting model. In his opinion, investors should not blindly trust the opinion of a certain PlanB and its charts. Krüger advised all market participants to acquire literature and independently explore the possibilities of predicting the behavior of the digital asset market.

If still falling for Stock to Flow, time to apply the saying "Don’t Trust, Verify". Stop reading what some ignorant bitcoiners have to say on the matter, pick an econometrics book, and Verify for yourself. Read the chapters on spurious correlation and cointegration, and move on.

– Alex Krüger (@krugermacro) October 5, 2020

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Investor Lark Davis drew attention to the renewal by bitcoin of the period of stay above the level of $ 10 thousand. The cryptocurrency did not fall below the indicated level for 69 days. Such stability, according to many participants in the crypto community, indicates the prospects for further positive movement..

#bitcoin record run above 10k now at 69 days!

– Lark Davis (@TheCryptoLark) October 4, 2020

Lark Davis himself did not miss the opportunity to buy more bitcoins. The investor also shared with the readers of his microblog information that he invested in the token. As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More Polkadot and Paxos Gold.

This week I bought more #bitcoin, Polka $ dot, and Paxos Gold $ paxg, what did you buy?

– Lark Davis (@TheCryptoLark) October 4, 2020

Crypto trader Michaël believes that at the moment, the future behavior of BTC largely depends on the efforts of the coin. In the event of a breakout of the $ 10,900 high, in his opinion, the cryptocurrency will be able to rise to $ 11,200 – 11,400. If the selling pressure turns out to be stronger, Bitcoin risks heading to $ 9,500 – 9,800.

$ BTC #BITCOIN

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Will Bitcoin continue to grow - investor opinions

Regarding this one, still a basic approach.

Every level of resistance gets a confirmation, similarly with the current resistance zone (Red block).

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If that breaks, $ 11,200-11,400.

However, reversing here and I target $ 9,500-9,800 as a potential cycle low. pic.twitter.com/VUSr6Qvwod

– Michaël van de Poppe (@CryptoMichNL) October 5, 2020

Dan Held, director of business development at the Kraken crypto exchange, did not begin to predict the future behavior of BTC. Instead, he chose to remind members of the crypto community that bitcoin is still one of the most profitable investment assets..

Bitcoin is one of the best performing assets of 2020. pic.twitter.com/lPzHarmUzP

– Dan Held (@danheld) October 4, 2020

We will remind, earlier experts shared with BeInCrypto their opinion on which cryptocurrencies can press the current leaders of capitalization.

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Will Bitcoin continue to grow - investor opinions
Will Bitcoin continue to grow - investor opinions
Will Bitcoin continue to grow - investor opinions

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