The period between March to July will see Bitcoin price significant upward fluctuation

After 11 years of existence, Bitcoin has created enough data to compare current price dynamics with past up/downtrends. And the past data are gradually revealing some optimistic pricing scenarios shortly. Especially the period from March 2020 to July 2020, the time before – during – after the Bitcoin halving.

Bitcoin price action is showing a clear up/downtrend

Indeed, past price records cannot guarantee or prove for a brighter future result. However, these price records may justify an upward move in the same cycle. Bitcoin prices usually fluctuate periodically. In 2019, the impact of the futures market set the stage for Bitcoin’s future growth. This dynamic can also create an interaction between the uptrend and the downtrend.

BTC also raised expectations for a bull cycle in mid-2020, based on the closing prices in the last quarter of 2019. In the early days of 2020, the price of bitcoin made people panic when “sinking” below $ 7,000. However, as AZCoin News reported, the Bitcoin price then recovered back above $ 7,340. However, current price scenarios are also showing that Bitcoin is at risk of sinking to new lows between $ 6,000. However, the possibility that Bitcoin soared to $ 8,000 is not without.

The period from March 2020 to July 2020 will undoubtedly appear many fluctuations. Typically, prices will be pushed up before Halving – expected to take place around May 15, 2020. Nor does it exclude the possibility that whales and sharks in the market will manipulate prices.

Bitcoin derivative products soared at the beginning of the year

Besides the relevant events in the market, other factors that are likely to increase the level of BTC speculation will be the optional market. In just a few days, CME will launch its new optional product. The options also offer different trading strategies, in which the nature of the products is still to bet on future Bitcoin prices, instead of buying actual Bitcoin.

Besides, the BTC mining market may also play an essential role in 2020. Mining companies are operating more strongly than ever, reaching a record high of 114 quintillion hashes per second and possibly as high as 119 quintillion hashes.

the-period-between-march-to-july-will-see-a-bitcoin-significant-upward-fluctuation

Source: Bitinfocharts

The cryptocurrency mining market is one of the most active markets, including many groups of potential traders, always interested in hedging risks from BTC price fluctuations.

And at the moment, the price of BTC is still significantly higher than its low in December 2018. Last year was the year when Bitcoin achieved an increase of about 85%. This is still a significant success if Bitcoin ignores from the mid-year peak.

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