Quote from: Ditex on May 05, 2020, 07:00:52 PM

What is going on on cryptomarket? Should we buy bitcoin?

The last week has become the most successful for bitcoin since the beginning of 2020. The price of BTC has increased by 17 percent, from the figure of $7500 of the latest Sunday to the current figure of $8700.

Remind that on Thursday BTC price reached $9000, and soon bitcoins price became very close to $9500.

Despite the fact that the first cryptocurrency failed to gain a foothold above the level of $9000, but the investors turned to be rather optimistic during the run-up to halving.

Note, that past week was only the second when bitcoin average annual price were close to $9000.

The bitcoin average annual price raise more then $9000 only once in the beginning of 2018 referring to the historical top of $20 000 in december of 2017. The thing is, that the subsequent drop was also reflected in the annual average price. At the beginning of the last year the price was around $6000, slowly recovering afterwards.

By the way, the total market capitalization this week exceeded $264 billion and the leader of price growth among the other leading cryptocurrencies, obviously, was bitcoin!

So, should we buy bitcoin?

The bitcoin price is growing expecting the halving and since the perspectives on the stock market seems to be rather optimistic. The investors enter the market willingly and trade amount has grown either. Judging by the world trends, cryptocurrency has to be bought! We are looking forward the great news in the run up to halving!

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Bitcoin is a cryptoeconomic barometer. SP500 is a barometer of the economy in traditional markets, and in our market, bitcoin plays this role. To buy or not is a private matter for everyone. But if you know how to wait, then bought Bitcoin can be a pleasant profitable bonus.