CandleFocus
Bitcoin Heading for All-Time High?
2023-04-04
Author: Lydia Thomas
Bitcoin's monthly chart is showing a very bullish image, according to the analysis from various cryptocurrency experts. Statistics from the Relative Strength Index (RSI) are showing an overall positive trend and the benchmark cryptocurrency is settling in the middle path of overbought and oversold situation. In addition to this, Stockmoney Lizards compared the advancement of Bitcoin in the period of 2021-2023 to the same one in 2017-2020, and found some similarities, forecasting a new surge in the next following months up to $47,000. Michael van de Poppe also supports this view by referring to a 'classic swoop' and shared his opinion that Bitcoin may reach $40k if $25k is tested first. Currently, Bitcoin is slowly going downwards with only 1.46% declines per day and 3.04% progress in the last seven days, according to the chart. Moreover, the gaussian channel is also pointing to a promising future with another weekly high, as Finbold reported on April 3rd. Overall, investors in cryptocurrency should be optimistic about the future of Bitcoin. Nevertheless, people should always keep in mind that, investing Bitcoin is a harsh decision and their capital may be at risk. Therefore, it is recommended to consult a financial advisor before taking such an important step.
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