Big comeback of BTC?

Bitcoin has not been that low since December 2020. In May this year, we saw a forwarding of BTC prices by over USD 13,000 and so far it has stayed at the threshold of USD 28,000. This was to be expected when observing the previous charts as this value is close to the technical support area. The expected breakout, however, did not exceed USD 31,000, so at the moment — as experts say — it is difficult to count on long-term increases.

However, analysts see parallels to the declines in 2015, 2018 and 2019, after which Bitcoin saw very large increases. Will this scenario work?

Institutional investors have already started buying out the oldest cryptocurrency and analysts forecast “above-average profits”. Meanwhile, long-term investors are entering the surrender phase and are ready to sell their Bitcoins at a loss, which creates a very good opportunity for long-term investment.

It is said that Bitcoin is modern gold, and people who want to secure their funds are currently investing in it. No wonder if we take into account that most young people have never seen a real gold coin live.

Leaving aside this argument, in unstable or conflict-prone areas, carrying valuables with you is, to say the least, dangerous. Bitcoin allows you to recreate access to an electronic wallet anywhere in the world. As well as selling or buying it on many stock exchanges or markets.
There is also the issue of inflation, which currently keeps investors awake at night. BTC is a deflationary currency which, despite fluctuations in its rate, allows for better security of funds than traditional money.

The future will show whether the bear market will turn into a bull market for BTC in the near future.