Ahhh Bitcoin. The bullish cryptocurrency that dominates the rest. As of late, we have been seeing a very steady upwards trend in Bitcoin prices. It’s actually looking very similar to the pattern back in 2016. Bitcoin is expected to rise up to $100,000 in this next cycle.
There are a lot of misconceptions when analyzing cryptocurrencies in general, Bitcoin in particular. Many people think that Bitcoin can not rise any higher (as the current value might be so high). This could not be farther from the truth. People should not be so concerned with the price of Bitcoin, but rather the market capitalization.
Market capitalization is a measure of the actually security value. With regards to Bitcoin, it’s regarded as the circulating supply of tokens multiplied by the current Bitcoin market price. This is such an important factor when analyzing Bitcoin and it’s often overlooked.
While Bitcoin is on a steady increase, it is important to note that past performance is not a solid indicator of future values. Anything can happen in the risky and volatile market of cryptocurrency.
Good Luck 🙂