According to Fundstrat researchers BTC crossed the 200-day moving average at $8,897. Researchers have concluded that historically, when BTC behaves in this way, the next 6 months show gains of 193%.In addition, there are a number of factors that contribute to the Fundstrat researchers’ upward prediction. Firstly, the bullish sentiment that seems to prevail in the market due to the pre-Bitcoin
After staying below the $8,000 mark, BTC to $8,800 in less than 24 hours. The cryptocurrency at $9,500. At the time of publication, BTC trades at $8,821 with gains of 0.10% in the last 24 hours.
Historically, reward halvings have resulted in significant price appreciation since they reduce Bitcoin’s supply, which pushes the price higher. The market sentiment is also positive leading up to the event.
Other analysts and crypto personalities have been bullish under the current circumstances. Mike Novogratz has declared 2020 as the “year of Bitcoin”. Novogratz expects double-digit gains before the end of the year.
Author : Reynaldo