Market analyst: dön We are nearing the end of the horizontal cycle. Piyasa

Supported by increased trade volume, increased network activity and increased institutional investment, the price of Bitcoin may be on the brink of a major move towards the head. According to eToro’s senior market analyst, Mati Greenspan, the number of transactions in Bitcoin is increasing and the price rupture is only a matter of time.

Mati Greenspan: klasik This is a classic indication that we are nearing the end of the horizontal cycle. M

eToro’s senior market analyst, Mati Greenspan, states in his daily market comment that a potential rally in Bitcoin could be near and Bitcoin’s stagnation might be over. He also stresses that this situation shows that the most important crypto currency will soon emerge from its conservative model. Greenspan adds:

It’s just a matter of time. Of course, the straight line pattern can continue for a few more months and it won’t be a bad thing. But under calm price movement there are signs of boiling excitement. This is a classic indication that we are nearing the end of the horizontal cycle.

Greenspan said earlier that Bitcoin has become a büy classic breakout pattern co, indicating a close rupture, that is, increasing transaction rates, continuous daily trading volumes, and three catalysts that require the continuous growth of the crypto currency.

Market analyst: dön We are nearing the end of the horizontal cycle. Piyasa

Based on data from Blockchain, Grechainpan says that the number of Bitcoin transactions per second, which fallen in the first quarter, has steadily increased in the second half of 2018. The transaction rate increased to 2.78 as it fell below 2.0 TPS in mid-April. As of Thursday morning, a six-month increase is more than 40 percent. At the end of December, still below 4.8 TPS, the current growth occurred in relatively stable market conditions. Greenspan emphasizes that this is a classic indication that we are nearing the end of the horizontal cycle.

At the same time, the steady decline in the daily crypto currency trading volumes during the year has been seen at $ 10 billion over the past months. Greenspan states that this is görülen more exponentially “than the average daily volumes seen in the final month market.

”This data is good for the short and medium term future of the market.“

However, trading volumes in the Wall Street futures markets are increasing, though volumes in the crypto-money spot markets have been flattened. As we reported yesterday, according to the CME report, the average daily volume of Bitcoin futures (Bitcoin futures) experienced a significant jump in the third quarter compared to the previous quarter. On a daily basis, CME has a volume of Upbit, one of the largest spot crypto currency exchanges in South Korea. Greenspan argues that these data are good for the short and medium-term future of the crypto-money market.

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