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Bitcoin has suffered through a huge loss during the market crash of March 12-13 but it soon managed to recover back. Currently, it is trading near to $9,000 but there are certain predictions and price indicators which indicate that Bitcoin price yearly moving average might reach an all-time high that too before the upcoming Bitcoin halving.
One of the crypto asset analysts, Yassine Elmandjra has noted that Bitcoin is all set to reach an all-time high by market capitalization. This high will be noted for the yearly moving average price.
Bitcoin’s yearly moving average price is about to break an all time high. pic.twitter.com/BjgdPZ8mm4
— Yassine Elmandjra (@yassineARK) May 1, 2020
Bitcoin Price metrics indicate an extremely high
Ever since the launch of Bitcoin, it is only for the second time that Bitcoin yearly moving average has reached around $9,000. Elmandjra has produced a chart on May 01, 2020, in which it has noted the yearly moving average price from 2013 to the current time.
It has been noted that late in 2018, the price of Bitcoin was at an average of $3,100.
In the chart produced by Elmandjra, it has shown the observance of Anthony Pompliano, co-founder of Morgan Creek and Saifedean Ammous who is author of the Bitcoin Standard.
Daily price doesn’t matter
Even though Bitcoin has always tried to maintain its price and performed well, a lot of people are still unable to decide whether to buy Bitcoin or not. Mark Yusko, CEO of Morgan Creek has earlier said that the people should not at all consider selling Bitcoin. He has also pointed out that the price of Bitcoin is getting down consistently over the past few years other than a few exceptions. He has also said that the daily price of Bitcoin doesn’t even matter. He recommended that people should rather focus on the increased adoption and positive fundamentals of the currency. It is yet to be seen whether this prediction of all-time high will be correct or not.
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