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Bitcoin's price is setting a new direction

3 min reading

BTC reached a new annual price peak of $ 12,346 - based on CoinMarketCap average value. This cryptocurrency once again broke through a key area of resistance to take a new path. What's next?

btc price with yearly ATH

Bitcoin price at the highest this year's level

Already yesterday, at the rate of USD 11,870, many signals indicated that this cryptocurrency was facing a huge move. BTC miners maintained a positive mood, and many large investors were on the verge of break-even (whales who bought Bitcoin in the $ 9,000 to $ 12,000 range).

As it turns out, once again we are dealing with extreme greed among BTC users - interestingly, it is slightly smaller than the day before.

greed and fear on cryptocurrency market

Yesterday's Bitcoin session closed at $ 12,254.40. Recall that the opening was at USD 11,895.66. Thus, the cryptocurrency generated a profit of 3.02% - although it is small compared to the typical fluctuations of the BTC rate, the important thing is that the price was above a key resistance area that it could not handle for a long time.

BTC will beat gold in the future

A few days ago, the American entrepreneur and investor - Anthony Pompliano issued a rather interesting long-term forecast for the most popular cryptocurrency. It turns out that his faith in Bitcoin remains steadfast, as he stated that by the end of 2029, BTC's market capitalization will even surpass gold. He shared his thoughts on Twitter.

Peter Schiff, the most faithful supporter of the popular metal and the greatest enemy of Bitcoin, could not remain indifferent to such a controversial opinion. Until then, he replied, BTC might be lucky if it continued to exceed the value of the baseball cap.

The current market capitalization of this cryptocurrency is over $ 226 billion. When it comes to gold, in this respect it exceeds BTC about 40 times.

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