Il price of bitcoins finally reached the numerary of $25.000 to the astonishment of many analysts and the euphoria of many traders and holders. In the last week, however, the price of BTC seems to have found some difficulty in overcoming this technical stumbling block: the price hit $25,000 well 5 volte in less than 7 days.
Some technical analysts were not at all surprised by this stalemate. In their opinion, after a relentless growth like the one undertaken by Bitcoin since the lows of November 2022, it is natural to expect some profit taking by long traders. Observing the volumetric indicators however, there are no particular exchanges near this resistance and the POC remains positioned above i $23.000. Traders are probably still not feeling confident about taking positions near these levels, as that would not have been a wise choice in the past.
BTC/USD, 1D
BTC/USD candlestick chart on daily timeframe. Source: teletrader.com
Could Bitcoin price break through the $25,000 resistance?
Some experts instead they showed themselves particularly skeptics regarding the recent resurgence of the decentralized market. In their opinion it is absurd that the crypto market has already forgotten about long chain of bankruptcies started in November 2022 following the collapse of the second largest exchange in the world, FTX. I maximalists of Bitcoin instead I respond to these considerations by recalling that BTC is a independent asset by centralized structures and therefore its price is not driven by the video industry OC.
At the same time, some key indicators and predictors of the price of Bitcoin seem to indicate the beginning of a new one bull-run. It is the case of Stock To Flowproposed and conceived by «Plan B»: this mathematical model seems to indicate the beginning of a new possible restart of the price of Bitcoin.
The halving is getting closer and many analysts in the decentralized sector appear increasingly convinced of the fact that even in this cycle the price of Bitcoin can return to go out. What makes them proactive is the renewed trust recently placed by Asian countries in the sector. Although the United States and other Western economies are leaning towards a demonization of cryptocurrencies, it is also true that theirs capital injection was clearly expected degrowth. This is because the amount of money issued in the USA has started to take on negative values while in Asia remains a component positive of the economy. The American M2 is decreasing while the global M2 is once again at its peak and many recall that this economic component has always accompanied the growth in the price of more speculative assets.
