Comments by Yuri Mazur, Head of Data Analysis Department of CEX.IO Broker
The BTC/USD pair reached an important milestone on November 1818,200.Reaching this level has already been marked by great volatility and a sharp pullback.Of course, the strength of the uptrend at the moment is great, but, nevertheless, in the near future, a correction is likely to 16-17 thousand, which mayto be a great opportunity to go into the purchase at the local minimum.
As for the end of this year, the movement to the area of the maximum of 2017 now looksvery likely, but perhaps its achievement will happen again in early 2021.Do not forget about the classic behavior - in the case of explosive growth of bitcoin will definitely beHowever, the depth of subsidence in them remains only to guess in anticipation of the significance of corrective factors.
Also, the news background says strong interest in the asset from institutional market players since the end of August.This has undoubtedly had a major impact on the market dynamics of bitcoin and will continue toit will be provided in the future, as bitcoin becomes more integrated into the global economy.
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