August 18, 2020
Bitcoin is continuing to be moving higher after consolidating below 12,000 USD for the last two weeks. The asset trades at 12,300 USD at the time of writing this article, having broken above significant resistance levels.
Bitcoin stays underneath a crucial long-term resistances at 14,000 USD, but experts are expecting the beginning of a full-scale bull run. They refer to a confluence of fundamental, on-chain, and technical indicators suggesting that Bitcoin is picking up pace.
Bitcoin Is on the Verge of a Massive Upward Rally.
One of the Major advocates for Bitcoin “Vortex” recently said that there are four key indicators suggesting that Bitcoin is “beginning a multi-year bull run” reminiscent of the last major bull run:
Additional Elements That Substantiate Expectations of An Upturn.
Additional elements that were not mentioned by Vortex also alluded to the conclusion that Bitcoin is on the verge of a bull run.
Charles Edwards, the previously mentioned digital asset manager and Bitcoin expert, recently completed a list as seen below of factors as to why it’s difficult to be bearish on Bitcoin at the moment.
Some of the key factors are as follows, but this is not the complete list, Dave Portnoy entering the Bitcoin world, the Federal Reserve looking into a crypto dollar, the price of gold establishing a support/resistance flip, Tether’s market cap increasing by 26%, an accumulation price structure, and a rise in the number of investors “HODLing” their Bitcoin.
Fundamental Analyst for Global Markets
James has over 20 years of experience trading FX, cryptocurrencies and investments products for a range of investment banks and brokers
He spent the last 10 years analyzing and writing about foreign exchange, crypto-currencies and the global financial markets
He has also spoken at a range of conferences around the globe on various financial topics.