The price may increase to 9000USD in a month – LinkCoin.pro
The transaction showed increase last week, approached 344K at the top and decreased to 283K. The daily trading volume has been on a slow increase since February 2018. It shows the core value of Bitcoin and is the fundamental support for Bitcoin price.
The active address has had a fluctuation in a broad extent, which had 689K at the top and 474K in the bottom. This index hasn’t increased with the increased price of BTC.
USDT had a negative premium to -1% last week, showed a weak signal of the funding in.
The public enthusiasm decreased from the Google Search trend last week.
FGI was at 49, was at a Neutral sentiment. FGI looks at six different factors to score investor sentiment on a scale of zero to 100 — extreme fear to extreme greed respectively: market volatility (25%) + market momentum (25%) + social media trend (15%) + market survey (15%) + the ratio of Bitcoin in the market (10%) + Google trend (10%).
The newest long/short ratio is 1.13, the long position and the short position had the balance. According to past experience, if the ratio is too high it is highly likely that we will see a market correction.
The monthly transaction volume of future on Bakkt has increased to 0.1466Billion USD, increased 45% comparing with the last week. The volume of maximum open contracts was 394K USD, 9 times of the amount from last week! The increased transaction implies the more fund from institution is entering into the market, which is a good sign for the increase.
The increase in this round has not finished, there is the possibility to see the price above the 9000USD. In the short term, transaction volume may decrease due to the close of the China’s spring festival, there may be a slight correction, but will not be violate.
The price was 8100K when this article was published.