As Bitcoin (BTC) has finally settled in the $8,000 range, analysts have begun to formulate their opinions about what comes next for the cryptocurrency space. Per Tuur Demeester, a partner at Adamant Capital that recently penned a great report on the Bitcoin industry, suggested that BTC is moving from a phase of “expansion” out of a bear market to “reaccumulation” just above bear market levels. He posts a chart showing that the cryptocurrency may stay between $6,000 and $10,000 for the coming year, and will then begin to enter a bull market once the block reward reduction activates.
Halvening centric perspective on Bitcoin price. H/T @StoicTrader_ & @MLescrauwaet pic.twitter.com/89trRlSOqd