Weiss Ratings analysts are confident in the resumption of Bitcoin growth

The cryptanalytic company Weiss Crypto Ratings decided to reassure Bitcoin users who fearbearish downtrend that has taken over the marketin early September. According to the analysts of the organization, the bearish trend will quickly subside, and in general it is not strong enough to take Bitcoin below $ 10,000 in the near future.

Over the weekend, the volatility of the most valuabledigital asset remained high, since the beginning of the month, the price of BTC has decreased by more than 10%. However, Weiss believes that Bitcoin's position is still strong, so a fall below $ 10,000 is unlikely.

«Bitcoin price balances around 10 thousanddollars. We don't think #BTC will drop below 10k any time soon. This is support, just like $350 is support for #ETH. For BTC, we are only expecting a temporary short-term minimum.

A quick look at the weekly price chart of the cryptocurrency shows that the bulls could bring BTC back to $ 11,000. They are holding on to a strong bullish reversal pattern prior to bear intervention.

Since September 6, each significantthe bearish trend was diluted by bulls that managed to hold the market down. And while the strength of their defense was not strong enough to help correct the price movement, Bitcoin is well prepared for a jump up, at least to the previous resistance at $ 10,500, which could become support if the price rises.

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However, investors continue to believe inBitcoin as the number of wallets holding at least 1 BTC increased to a new all-time high &#8212; 823,000 Bitcoin is not the only cryptocurrency that investors are putting their money into, Ethereum has also seen an impressive increase in the number of addresses. It is obvious that Bitcoin and Ethereum supporters turned a blind eye to price volatility.

It's hard to tell when Bitcoin will breakresistance at $ 12,000, but rising investment interest is another organic indicator that bitcoin's intrinsic value is being maintained more than ever.

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