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Will Bitcoin price return to $ 12,000 this summer?

Bitcoin hashrate hit a record high, rising above $ 8,800

Bitcoin prices are still expected to retest previous records or at least return to higher valuations. The $ 12,000 level is considered likely by mid-2020, when BTC is trying to make another breakout.

Bitcoin price hits 12,000 USD is quite possible

Yesterday, the Bitcoin price stagnated below $ 8,800. The short-term predictions call for a deeper decline, but on the long-term floor, BTC may be preparing for a mid-year rally.

Bitcoin trading may be the option of some holders, in an effort to earn more BTC. Analyst Josh Rager recommends trading with caution and planning. While Crypto Twitter Richard Hilger finished the picture in anticipation of the price range between a low of $ 7,300 and a high of over $ 12,000.

On Wednesday, Bitcoin's price hovered around $ 8,776. King coins still face short-term volatility in both price and volume. The sudden shutdown of Binance for maintenance led trading activities to drop below $ 38 billion in 24 hours,

The $ 12,000 prediction is still close to the usual range for Bitcoin price, and in the general view that the leading cryptocurrency will not reach new all-time highs this year. Up to now, BTC has been trading within a limited range, in line with previous predictions.

Bitcoin transactions come back to fear

Bitcoin's fear and greed index (Bitcoin fear and greed index) has dropped to 41 points, has not yet entered panic mode, but has recently escaped greedy territory. The Bitcoin price ended February with a loss, despite the usual pattern for January which was stagnant and surged in February. The bearish sentiment and the short-term decline are still not out of the question, and BTC is now Just spend a little time at the top.

The predictions do not envision a rapid recovery, right now.

At the same time, the Bitcoin price is known for its unpredictable bounces, and to reclaim $ 10,000 within a few days in January. Halving is also one of the events that can push the price of BTC higher. , but also led to short-term selling off.

The move below $ 9,000 makes futures trading much slower than on Bakkt.

There is no potential for a rally, both the volume and the number of open contracts retreated. But optimism and bullish sentiment persists when the Indian Supreme Court passes a historic ruling by rejecting the central bank's cryptocurrency ban. In addition, another positive sign is the legalization of cryptocurrency transactions in Korea.

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According to Bitcoinist
Translated by ToiYeuBitcoin

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