According to analysis by Research firm Glassnodes, bitcoin is to repeat similar growth as in 2017.
Forecast of future bitcoin price growth is based on current progress on markets, including previous events. The current market progress is very similar to situation on markets three years ago. Furthermore, the analysis operates with number of users, when more people are using the cryptocurrency now and bitcoin supply growth can’t meet the demand. Last time number of users grew, the cryptocurrency launched a bull market.
Moreover, bitcoin tested resistance on some psychological levels and we may expect break through $10,000. Even despite the fact that current bitcoin value declined from $9,500 to almost $9,100.
And the most important event to be considered is upcoming bitcoin halving, when speed of bitcoin mining declines to 50%, from currently generated 1800 bitcoins a day to 900. If number of traders and their demand remains, bitcoin halving could be a strong impulse for bitcoin value growth.