Many investors believe that the upcoming stock market crash, the solution will be Bitcoin, which is bought by more and more people from all over the world. Analyst Mikhail Maschenko said that the interest of cryptocurrency will hit the global markets, leading to the understanding that this is not the end of the bull market:"The demand for Bitcoin is growing, as the cryptocurrency market is becoming less volatile and more and more professional investors see it as a hedge."
The current bull market is the second-longest in history, according to Fortune magazine, which has so far been up to 104 months. The longest uptrend in history ended in 2000 after an impressive run of 113 months. If he is right, Bitcoin will play a key role here. Bitcoin's denunciation by banks and bankers, and calling it a scam, no longer cause selling, but the contrary. Investors no longer take these words seriously and are eager to join the crypto world. When institutional investors begin to invest large amounts of capital in cryptocurrencies, some of the stunning forecasts made by so-called Bitcoin bulls can be realized. However, Mishchenko's forecasts were quite conservative, suggesting that by the end of 2017 Bitcoin, which reaches $10,000, will be driven mostly by market participants emotions.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The price projected target at the round level of $10,000 hasn't been hit yet, but the wave progression is still impulsive and so far there is no reason to think the target will not be hit. No sign of any divergence between the price and momentum either.
No comments:
Post a Comment