The company cites statistics according to which the predicted value of the main cryptocurrency (Bitcoin) in the new growth cycle will exceed $ 400 thousand.
The mining company BTC.TOP is confident that the real bull market for cryptocurrencies has not yet begun. The company came to this conclusion based on a comparison of past bullish growth cycles that were noted in 2011, 2013 and 2017.
BTC.TOP believes that the spring rally, when Bitcoin at its peak was worth almost $ 65K , is the zero stage of the future bull market.
According to the chart published by BTC.TOP, the value of bitcoin within this cycle should exceed the $ 400 thousand mark.
The company also referred to Google Trends statistics, which show that every bull market is accompanied by a multiple increase in user interest in Bitcoin.
BTC.TOP notes that so far this indicator has not reached the mark at which the last growth cycle in 2017 ended.
“Google Trends statistics show that the current search volume is lower than the 3rd bullish growth in 2017. This suggests that a large number of small and individual investors have not yet entered the market, considering the $ 64.3 thousand mark as a local peak, ”the BTC.TOP report says.
In mid-April of this year, the cost of bitcoin reached a historic maximum at around $ 64.3 thousand. After that, the quotes went down. The price of the main cryptocurrency (Bitcoin) on June 22 for the first time since January fell to $ 28.8 thousand.
In June, BTC.TOP became one of the first companies to shut down equipment for mining cryptocurrencies in China and began transporting it to other countries.
The company made this decision in connection with the tightening of regulation of cryptocurrencies in the PRC and the ban on mining in four Chinese provinces.
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