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Bitcoin (BTC) has come a long way since its inception. It was trading at $10,000 a year ago, quickly moving into 2021, now $43,000 acting as support. Adoption by financial institutions, as well as by countries, has generated a global acceptance process. Well, what can we say about BTC for the next 12 months. Cryptocoin. com we have compiled analisdollarserine predictions…

Where do we stand in Bitcoin (BTC) right now?

Popular trader Pentoshi shared his analysis in a series of tweets to reflect Bitcoin’s broader situation. At the time of writing, Bitcoin was in the “early majority” stage of its S curve. The graph below is also shown.

What can we expect from Bitcoin (BTC) in the next 12 months?

Our first analyst, Pentoshi, has this to say on Bitcoin adoption:

When you talk about adoption likely to happen next year, it’s important to realize how scarce BTC really is. These kids are often programmed by Bitcoin, and that’s when people will screw up next year. Institutions buy your cryptocurrencies.

Pentoshi says in this statement that big players are taking over the scarce Bitcoin supply. The analyst also made the following comments, predicting a bullish scenario for the largest cryptocurrency:

Next year: Reaching 1 to 3 countries adopting Bitcoin. Twitter isn’t just integrating it, it’s adding it to its balance sheet. There are also multiple ETF approvals that allow many companies to access BTC. 10 publicly traded companies will adopt it next year. Adoption next year is more than this year. These will be.

Is a fix on the table?

In addition to the analyzes above, it is thought that corrections may come into play. Pentoshi identifies $37,000 as a potential floor for this prospect. Their technical analysis is:

Technical analysis: Looks healthy on HTFs and likely lays a foundation on the way to ATHs over previous HH, potentially forming an HL here at Summer PoB (first tweet). While I believe BTC could drop as low as $37,000 for a short time, it is unlikely to stay there for long. We may see offers piling up on exchanges at these levels for the purpose of filling, but the size of them is something I’ve never seen before on most exchanges. The bottom is closer than you think, and the top is probably a number you can’t understand right now (for Bitcoin price).

https://twitter. com/Pentosh1/status/1441749650835398656

At what levels are buyers concentrated in BTC?

However, one thing should not be overlooked. There is a significant kidollarge of buyers waiting for Bitcoin between $36,000 and $41,000. The graph looks like this:

Meanwhile, Pentoshi added, “We can expect multiple ETF approvals.” Let’s continue with the news from China…

Can winds from China destroy the accumulation?

Since 2009, China and Hong Kong have “banned” or caused FUDs in the crypto space on 19 separate occasions and counts. Events have a meaning for countries. In September 2017, the original “ban” announcement shook Bitcoin, but within weeks it was back to its former levels, setting the ATH level of $20,000 less than three months later. Although weak hands were purged out of fear, those who did HODL managed to hold out. We can summarize the events with the following tweet from a Twitter analyst:

The same thing happened in September 2017. China said it was banning Bitcoin, and the price dropped more than 30%. But BTC made a full recovery within a few weeks and then hit all-time highs in December that year. There is a saying, ‘History does not repeat itself, but it certainly rhymes’.

https://twitter. com/JohnSatoshiWick/status/1441379758277754901


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Michael Lewis

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