Crypto Currency News

Bitcoin price raises 3 percent and experts see a light at the end of the tunnel

Analysts Believe a Big Move in the Price of the Major Cryptocurrency Is Coming

Bitcoin (BTC) closes the week with a small growth that has it close to USD 32,000. In recent weeks, large investors have taken the opportunity to increase their holdings, but the price has not responded accordingly. At the close of this note, the price of BTC is $ 32,035.

Crypto analyst Will Clemente assured that BTC’s volatility has “hardened” in recent hours. The expert pointed out that 9.94% of the monetary mass of Bitcoin has moved between 31 thousand and 35 thousand dollars, while 17.55% has done it between 31 thousand and 40 thousand.

Clemente believes that “a great movement is coming “, although it is not possible to determine in what direction it will be. Volatility, as noted, will also be present in the short term.

In the newsletter shared by Anthony Pompliano, the specialist analyzed some technical variables that suggest that accumulation processes continue. Also, it slipped that BTC miners keep adding to their BTC holdings. In fact, it marked that they have added up to 3,280 BTC since June lows.

“In conclusion, the divergence of the accumulation behavior in the chain continues to strengthen against the lateral action of the price. Now 8 weeks into this reacumulation band, I suspect we are nearing the completion of this coin reabsorption. That is why I am also closely watching the resolution of this volatility squeeze,” added Clemente.

The rest of the crypto market has not had great movements today. Ether (ETH), the second largest cryptocurrency on the market, grew more than 1% and its price is around USD 1,930.

On the other hand, Binance coin (BNB), cardano (ADA) and XRP had movements of less than 1%, and are trading respectively at USD 310, USD 1.22 and USD 0.60. Bitcoin cash (BCH) and litecoin (LTC) had a similar behavior, and their price is USD 448 and USD 128. Lastly, Dogecoin (DOGE) fell more than 2% and is trading at USD 0.18.

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