Crypto Quant Data Hints An Imminent Bitcoin Price Rally, Will It Be Strong?

The beginning of 2022 has been rocky for the world’s largest cryptocurrency, Bitcoin. Many experts believe the digital token will eventually hit the $100K price. For them, this is not a case of if but when. Deutsche Bank also reported that some Bitcoin investors see BTC reaching a price of $110,000 in five years. Meanwhile, experts warn new crypto investors, stating they should be cautious about how much they wish to invest. They mentioned this considering the volatility of BTC in recent times. Related Reading: Crypto Market Shows No Signs Of Positive Movement, Is ‘Uptober’ A Myth? The token had displayed a remarkable rise in value over the years. So even though the market is still bearish, investors anticipate a short-term bull run in its price soon. Briefing On Bitcoin Price Movement While the crypto market currently looks unfavorable for investors, BTC is seemingly shaping up for a rebound. It has remained around the $19K price level since dropping from $22,000 in September. Bitcoin has maintained a ranging movement, which many believe is a sign of, at least, a short-term rally. The unfavorable price movement of Bitcoin can be traced to multiple factors coinciding with the current global financial downtime. Another major factor that led to the drop in the crypto market was the crash of Terra. Since mid-June this year, the event has kept BTC hovering around the $20K price mark. Though there were times it we...