Bitcoin has shot up to 19400USD and is now trading at around 18600USD.
Who would have thought in March this year that a bull run like this will be just around the corner.
Check out the graph that shows the growth since than. Thanks to coinmarketcap.com
If Bitcoin continues to rise, we will see a highly anticipated all time high of the highest ranked cryptocurrency.
If Bitcoin will fall, it will probably take most of the Altcoins down too.
That's the reason why all eyes are on the Bitcoin at the moment.
So my research went both ways.
I would like to start with why Bitcoin will fall:
- There is a CME gap at $9800 and this gap got filled pretty much every time
- Rising wedge formation (Graph by Faibik on tradingview)
- Covid 19
And now I will tell you why the all time high is near
- PayPal finally allows Bitcoin (read my blog on that)
- Institutional Investor are onboarding like never seen before
- Fomo (alot of people missed the Bullrun or sold too early and are in serious fear of missing out)
- We are just before hitting all time high according to Polarhusk on Tradingview.com
- Covid 19
I tried to show both sides and why bulls and bears have valid points in their predictions.
My personal opinion is that Bitcoin came a long way since it's last all time high.
Covid 19 has proven to be a $Btc killer in March, but with so many people online shopping now and finding out about the cryptography world, this terrible global pandemic seems to broaden the usecase of $Btc.
Please checkout my Crypto-Picks right here
https://www.publish0x.com/crypto-picks
Check out Cryptonews Blog here
https://www.publish0x.com/cryptography-news
And if you are interested in travelling follow me and my girlfriend around Australia right here
https://www.publish0x.com/australia-2020
Just remember this is no financial advice.
Chris aka Goodsoul
Always happy for tips,likes and follows
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