Cryptocurrencies

Bitcoin (BTC) at $ 15,000 today? Bloomberg says yes – Cryptocurrencies

Bitcoin (BTC) is struggling to return to the $ 12,000. Its last climb above $ 11,000 was halted by the historic resistance zone of $ 11,100 – $ 11,300. The BTC should however trade well above, at the level of 15 000 USD: but between theories and practices, there is generally a gap.


The 2 keys of 15,000 USD

The latest newsletter from Bloomberg indicates that the price of Bitcoin will continue to appreciate, based on 2 key indicators.

The crypto analyst Mike McGlone estimates that the course of Bitcoin is currently undervalued; it should be around $ 15,000.

The first indicator that pleads in favor of this price is the average number of active addresses: the latter makes it possible to determine the adoption rate of Bitcoin.

number of active BTC Bitcoin addresses 15,000 USD

Source : Glassnode

The data on active addresses over a 30-day interval allowed McGlone to arrive at this price of $ 15,000, based on an automatic calculation basis measured since 2017.

The second indicator that confirms this hypothesis is the hash rate. The network has recorded in recent weeks, a significant increase in its hashrate, despite the halving.

Many analysts say the difficulty of mining has never been higher. This conjunction of factors is an indicator of the health of the network.

The course of Bitcoin will continue to rise if these 2 fundamental indicators remain constant or improve.

Always confident, even below $ 10,000

Mike McGlone is one of the many analysts who remains confident in the performance of Bitcoin, despite the recent price correction which had caused it to drop briefly on numerous occasions below $ 10,000.

Bitcoin has been able to return to $ 11,000 since then, before returning to its current level above $ 10,700.

McGlone estimate that Bitcoin will be the source of a paradigm shift in the cryptocurrency and value store industry.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

What is preventing Bitcoin from using its full potential despite strong fundamentals? The COVID-19 pandemic is in its favor, halving should have boosted its price, the cryptosphere is welcoming new whales like MicroStrategy. The price of BTC takes a long time to take off, especially if it is destined to climb to $ 100,000 soon. In the absence of a bull run, we are more entitled to a snail sprint: at the current speed, we are not ready to arrive.

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