Bitcoin is expected to grow by 54% in May this year

Popular anonymous cryptocurrency analyst InvestAnswers said that the flagship cryptocurrency could rise by 54% in the coming weeks and reach $ 45,000.

The analyst based his opinion on the data from the chart presented by the K33 research company. The crypto researchers compared the price chart of BTC $56,280.35 Bitcoin -1.52% Market capitalization $1.11 trillion VOL. 24 hours $2.8 billion during the 2018−2019 bear market and the current state of affairs. According to InvestAnswers, the charts are similar in many ways, and if the correlation continues, bitcoin has every chance of growing significantly.

«If this pattern repeats, we will reach $ 45,000. This should be expected in a month, by May 20 or so. Then, most likely, there will be a small „respite“ and lateral movement, consolidation. Long-term bitcoin holders are now much more confident in the future than they were 4 years ago. Even now, they are not selling their stocks, despite a 60% drop from peak values,» explained InvestAnswers.

According to the analyst, recent problems in the American banking sector and regulatory actions have pushed bitcoin to grow. And if the crisis continues, it will become another driver of growth for the flagship cryptocurrency.

It is worth noting that at the moment, the bulls have capitulated somewhat, as the BTC rate has fallen below $ 28,000. Earlier, anonymous analysts from DonAlt and Cred said that bitcoin was preparing to rise to $ 40,000.