When will Bitcoin rise. The main thing — to overcome the mark of $7400

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In November the price of bitcoin has risen to $100, to $6430. Analyst Omkar Godbole told what should happen to the situation on the market of digital money has changed again for the better

The cryptocurrency Bitcoin has set the minimum at $6000, so now traders and investors can identify the first signs of the long-awaited reversal, CoinDesk analyst Omkar Godbole. He argues that for the new sustainable growth in the long term the cost of coins should rise above $7400.

The expert stressed that the price of the cryptocurrency must rise by 16% relative to the current level of $6400 to be able to talk about changing situation in the market. According to analysts, in recent years, there have been several negative developments, such as the refusal of the Commission on securities and exchange Commission (SEC) to launch a bitcoin ETF, so in the near future the asset is unlikely so much will rise in price.

First, the coin must overcome the level of $6642, after which it will move in the direction of critical level of $7400. The last time the bitcoin was trading above that zone for more than three months ago on 4 August, the price of bitcoin was $7440.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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