RATE Group | Bitcoin Price Yearly Average Nears All-Time High Above 9K Pre-Halving
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Bitcoin Price Yearly Average Nears All-Time High Above 9K Pre-Halving

02 May Bitcoin Price Yearly Average Nears All-Time High Above 9K Pre-Halving

Posted at 12:33h in Bitcoin News by

Bitcoin (BTC) may have reversed all price losses since its crash in March, but another price indicator is about to make a new all-time high.

As noted by Yassine Elmandjra, crypto-asset analyst at investment advisor ARK, the top cryptocurrency by market capitalization is about to set a new record high for yearly moving average price.

BTC price metric shoots for the moon

In a tweet on May 1, Elmandjra produced a chart confirming the trend — since early 2018, the time of Bitcoin’s current yearly moving average price high, the number has dropped then rebounded. 

Late 2018 proved to be the floor when BTC/USD traded at around $3,100. Now, a slow grind up through 2019 has culminated in a new landmark moment that will hit if markets retain their current levels.

Bitcoin’s yearly moving average price is, therefore, at around $9,000 for only the second time in its history.

Elmandjra drew attention from both Morgan Creek Digital co-founder Anthony Pompliano and “The Bitcoin Standard”…

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