Bitcoin is back in the headlines as experts report the onset of a new price discovery phase that could see the leading cryptocurrency's value significantly increase.
Beginning of Price Discovery Phase
Leading trader 'Daan Crypto Trades' noted that Bitcoin has been trading above its previous all-time high for almost a month. This signals the beginning of a new price discovery phase, during which the asset's value could substantially rise. In previous cycles, Bitcoin saw 1,600% growth in 2017 and 245% growth in 2021 after entering this stage.
Experts' Predictions
Capriole Fund founder Charles Edwards predicts 'insane opportunities' for long-term investments in Bitcoin in the coming months. The asset surged 40% in November, breaking monthly price records.
Historical Trends and Risks
Experts have noted that December has historically brought positive trends for Bitcoin. In 2010, 2011, and 2020, the December figures were especially successful. However, according to John Glover of Ledn, market corrections are still possible.
Bitcoin continues to be one of the most talked-about cryptocurrencies in the market, and the onset of the price discovery phase only heightens investor interest and expectations.
