Bitazu Capital establishing partner and crypto analyst Mohit Sorout thinks Bitcoin could rise to a new record high in 3 months when it gets out of the existing scope.
The price of Bitcoin has been strengthening during the last months.According to Mohit Sorout's words, if the BTC breaks out effectively, we can expect a new price record. Bitcoin has been fluctuating between $10,200 and $11,800 from July. It seems BTC has overcome instability if we don't consider short-lasting issues.
Generally, a major value growth follows the period when Bitcoin remains constant for a while.
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It's not possible to know for sure when the breakout will take place. In the case of it's happening, Sorout believes it would require 3 months for BTC to reach $20,000.The analyse of Bitcoin rate shows that it changes noticeably after experiencing long-range. This is true for breakouts as well as breakdowns. Sorout called the current Bitcoin status as "Calm before the storm". He mentioned three-month period basing on examination of instability. The price growth can occur even sooner.