Bitcoin has experienced a notable increase in recent days, because it has exceeded the barrier of $ 104,000 for a short period on May 9, before settling at around $ 103,000, which achieves monthly earnings of around 33%.
This jump raises questions on the possibility of registering a new historic summit in the near future, in particular in the light of the availability of a certain number of basic factors that support this upward trend, in particular:
First: Bitcoin Flow to trading platforms
One of the important indicators supporting the last height is the drop in the net bitcoin flow to central commercial platforms, which was obvious during most days last week.
This decrease indicates that an increasing number of investors remove their currency from platforms in order to self-storage, which is understood as an indication of the intention to keep the currency and reduce the desire to sell, and thus to reduce pressure pressure and vice versa.
Second: increased interest in individuals and the founderSat
Bitcoin’s search has experienced a significant increase in Google, which reflects the growth of the interest of individuals in money.
This is obvious by recording the Bitcoin network of around 350,000 new portfolios in a day, indicating a wide entry into individual investors due to the fear of missing opportunities.
Although this phenomenon is historically linked to the peaks of the market, the current numbers are always lower than the maximum levels which preceded the previous historical peaks.
Third: geopolitical factors
One of the external factors that can help support Bitcoin is the next meeting between US and Chinese officials.
The two parties are expected to discuss soothing trade tensions, and the American president recently hinted at the possibility of reducing customs tasks imposed on China.
Such a breakthrough in trade relations between the two largest economies in the world can reduce global fog and promote appetite for risks on the markets, which can be in the interest of digital assets.
Despite positive signals, some warning indicators appear.
Where the index of fear and greed has reached the level of 73, which reflects a dominant mood of excessive optimism.
In addition, the RSI index shows a reading of 75, indicating the possibility of currency in the cutting -edge purchasing area, which can improve the chances of a temporary prices correction.
In light of this data, positive expectations of Bitcoin remain in place, with the need to notice the possibilities of corrective short -term decrease.
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