In July, bitcoin can set new records
Despite a strong drawdown at the beginning of the year, in July bitcoin (Bitcoin) can set new records, Bloomberg reports with reference to Tom Lee According to Lee, the price drops of bitcoin are V-shaped.
Analyzing 22 cases of a drop in the price of bitcoin by 20% or more, recorded since 2010, Lee found that the recovery period is approximately 1.7 times greater than the period of the preceding decline. This means that in order to recover from the last fall, which lasted 50 days, bitcoin will need 85 days.
In other words, new records should be expected by the middle of the year. Lee also noted that in the past few weeks he noted improvement in the mood of bitcoin investors, which means that the crypto currency has the potential for growth. How the price of bitcoin depends on the demand for it. The largest in terms of capitalization of the crypto currency fell by 70% between December 18, when its price set a historic high, and on February 6.
After that, the price was partly restored and on the night of Friday, February 16, overcame the $ 10,000 mark.
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