Cryptocurrencies have recently become popular again, with prices skyrocketing. What’s going on?

The entire trend is reflected perfectly in the Bitcoin chart. First, the beautiful inverse SKS bottom from June 2022 to March 2023, following last year’s sell-off, then the breakout above the $25,000 mark along with a successful test from above (confirmation of the breakout), followed by the bullish sideways consolidation between $25,000 and $31,000.

And now the next level: the breakout above $31,000 and thus a free ride up to $49,000 initially. Later even up to $69,000 again.

With the new breakout, a larger buy signal is activated with projection targets at $49,000 and later even up to $69,000 again.

Bitcoin: Clear Breakout to the Upside! Source: stockcharts.com/ own representation

„Halving“ creates additional thrust next year – BlackRock & Co. already buying today This breakout to the upside also takes place against the background of the upcoming „halving“ (artificial scarcity) next year.

It is quite possible that large investors are beginning to get in now in anticipation of this development in order to benefit most from the possible massive price increases.

Now, while prices are still affordable. After all, Bitcoin can still be bought at half the price compared to its all-time highs in November 2021 at around $69,000.