Analyst Affirms Bitcoin (BTC) Price Rally Momentum Lead By East Asia

Analyst Affirms That This Bitcoin Rally Is Different And Future Is Bright

After some time in which the price of Bitcoin was not very high and kept being lower and lower, the price is surging again right now and, according to Mati Greenspan, this is evidence that Bitcoin has a solid health and momentum is building right now.

The eToro senior market analyst has commented that the industry has been trying to understand why has Bitcoin gained 33 percent value this month, especially in the last eight days. According to him, there are several reasons for this.

One of the reasons is the anticipation for the Bitcoin ETF, which has received a regulatory green light and will bring Bitcoin closer to the general investors of the market. Also, for the first time since February the Bitcoin blockchain is topping 2.5 transactions per second. According to the specialist, Bitcoin has been pushing for more than 260,000 transactions per day, the highest since January.

The Momentum Is Building On The Chain

The specialist believes that the Asian markets will be very important for the price of Bitcoin. According to him, when the prices hit all time highs in December 2017, both Japan and South Korea were trading a lot of Bitcoins.

Because of this, these countries are very important for the token to get momentum and maybe even exceed the values that were found at the end of last year. At the time of this report, Bitcoin was valued at $8,200 USD, one of the highest values of the year so far since the price fell.

Mati Greenspan believes that the ETF will be one of the greatest impacts on whether the Bitcoin price will remain high or low at the end of the year. If it is completely greenlighted, it can have a huge positive effect.

Will Bitcoin surpass $20,000 USD this year? It’s still early to say, but follow our blog and we’ll keep you updated.

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