The mass adoption of BTC has helped it correlate with the global money market.
BTC had a solid year with a replacement value of 138% for the highest and lowest annual emissions.
Several technical signals expect the value of this flagship coin to soon exceed $100,000.
Bitcoin (BTC/USD) is the king of cryptocurrencies that reached a new all-time high of $69,000. 00 on November 10, 2021. Later, the value showed a corrective momentum where the existing value stands at $50,775. 26.
Bitcoin has had a less volatile year in which investors have had many opportunities to open or close their positions during the year; in the more than 52 weeks, the value has risen more than 70% and stabilized after surpassing the record of $20,000 in 2017.
The explanation for why Bitcoin’s value stability is the acceptance of El Salvators as a payment method in addition to Elon Musk’s positive sentiment. In addition, Bitcoin ETFs have attracted the attention of institutional investors, expanding the volatility of the value after a 25% loss after the acceptance of El Salvator.
In addition to achieving several highs, Bitcoin bulls had a strong position above the $30,000 level, however, after reaching the all-time high, the value collapsed with a 37% loss and shaped a depletion candle on the chart. to date it is more than 80%, where the existing value has exceeded the dynamic EMA of 20 on the chart.
Source – TradingView
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