Bitcoin once broke through $9,300, and key indicators show that it will reach $60,000 next year.

On the evening of June 16, according to the data, the highest value cryptocurrency bitcoin broke through the key resistance of $9000 on Sunday morning on June 16 and climbed above $9,300 all the way, then fell back to around $9,000. At the same time as the price reached a 13-month high, the total market capitalization also exceeded $160 billion. The share of Bitcoin in the cryptocurrency market also rose from 55% on Friday to 57.8%. Since Bitcoin's technical indicators are long-term bullish, if it can stay above $9, it will continue to try to challenge the upper resistance of $10,000. Bitcoin also broke through $9,000 in May, but then fell immediately to around $8550, ushered in a sharp fall. An analysis of the inventory-to-traffic ratio of key indicators in Bitcoin shows that its price is expected to reach an astonishing $60,000 in August 2020. Bitcoin is one of the assets with high inventory flows in recent months because of its current low circulation. In May 2020, the “half of block rewards” will continue to push up this indicator and drive up prices.