Monthly bottoms bitcoin rate getting higher in 2019

Misir Mahmudov is a writer and analyst at Adaptive Capital

The past months seem to be a bit boring. The rate of bitcoin always seems to be moving within the same margin, between 8,500 euros and 11,300 euros. But do you zoom out the price chart? Then something special stands out.

Misir Mahmudov is a writer and analyst at Adaptive Capital. This is an organization that offers investment funds in cryptocurrency. Mahmudov notices that the monthly bottoms are getting higher (ok, with the exception of February):

Bitcoin 2019 * monthly lows * show how strong this bull will be

Jan- $ 3,401
Feb- $ 3,399
Mar- $ 3,734
Apr- $ 4,097
May- $ 5,348
Jun- $ 7,583
Jul- $ 9,163
Aug- $ 9,321

This isn’t a few months or 2017 gamble mania anymore

This is a store of value in the making

This is just the beginning

– Misir Mahmudov (@misir_mahmudov) September 3, 2019

According to him, the current market cannot be compared to that of 2017. According to Mahmudov, that year was more like a casino. The rate went particularly fast in the last months of 2017. From November 25, 2017 to December 17, 2017, the rate rose from 7,000 euros to 16,500 euros.

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When in doubt, zoom out!

A row of figures may not be entirely appealing to the imagination. In the image below, the claims of Mahmudov have been incorporated into a price chart.

Each candle on the graph represents a month. A green candle means a rise, a red candle a fall. And although the rate has fallen in July and August, the soils have always become a lot higher.

The jumps are a bit smaller. The bottom of the bitcoin rate rose sharply in April, May and June in particular:

More people positive

The prices are rising, and that makes crypto Twitter positive again. Charlie Shrem is also making a contribution. He is a first-time investor and co-founder of the Bitcoin Foundation:

Do you remember the in-between period when #bitcoin went from $ 1,000 to $ 20,000?

So what makes you think you’ll remember when it goes from $ 10,000 to $ 100,000?

– Charlie Shrem (@CharlieShrem) September 3, 2019

He wonders: who still remembers the period when bitcoin took the lead from $ 1,000 to $ 20,000? And what does it feel like when bitcoin soon rises to 100,000 dollars? Since we are still in the middle of this run-up, we have to wait and see.

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Incidentally, not everyone takes Shrem more seriously when they post bullish tweets. That’s because he makes public slips, such as the following tweet:

May 2018 will be the last time we ever see #bitcoin under $ 10,000

– Charlie Shrem (@CharlieShrem) May 3, 2018

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