Bitcoin News Today – Headlines for December 26
发布时间：2019-12-27 14:42:25 发布人：TokenString
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Analysts believe Bitcoin still has a very bright future despite its recent price action
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CryptoBirb gave some reasons Bitcoin’s price would be bullish next year
Bitcoin News Today – The past couple of months have not been favorable to Bitcoin (BTC). Since the digital currency hit its year-to-date high of $14k in June, BTC is down by about 50 percent. It recently plunged to a seven-month low of $6,400 due to selling pressure from weak hands and PlusToken. However, many analysts are still convinced that BTC still has a very bright future.
Recently, a popular crypto analyst – CryptoBirb – gave some reasons why he believes BTC has a very bright future. Here are some of the reasons why the price of Bitcoin will be bullish in 2020.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,193.08
0.017%
Bitcoin’s Long-Term Chart Is Extremely Bullish
A few weeks ago, the long-term chart of Bitcoin saw an extremely bullish sign from a macro perspective. The 50-week and 100-week SMAs saw a crossover, with the 50-week SMA crossing over the 100-week SMA. This means that the bulls are in control of the long-term trend of the digital currency. The last time this trend was seen was in mid-2016, before the parabolic rally that brought the price of BTC to almost $20k from $500 in a year and a few months later.
Bitcoin Futures Interest Is On the Rise
Over the past couple of months, the derivatives of BTC on different trading platforms have started to see a considerable increase in trading volume and open interest. This signifies an increase in investment activity from institutions. Many analysts believe that institutional inflows will be a driving force behind the next bull market.
Bitcoin’s Chart Is Painting Bull Flag
The chart of Bitcoin (BTC) is painting a massive bull flag, which many believe have a higher chance of breaking to the upside. If the bull flag breaks higher, it is more likely that the price of BTC would surge and break over the $10k level, which would pave the way for BTC to return to its previous all-time highs.
Strong Buying Pressure under $7k
The crypto analyst also pointed out that there is strong buying pressure under the $7k level. This indicates that there is strong long-term buying interest in the $6k range and that is a level in which Bitcoin should find a macro bottom.
Furthermore, Bakkt – the Intercontinental Exchange, Microsoft-backed digital currency infrastructure upstart and trading platform, and Starbucks, – recently launched its regulated BTC futures contracts. According to the analyst, this is a bullish fact that should have a positive impact on the market in the coming years. However, other analysts also believe that the futures of Bakkt and other derivatives like it would act as a catalyst for the next market rally.
- Analysts believe Bitcoin still has a very bright future despite its recent price action
- CryptoBirb gave some reasons Bitcoin’s price would be bullish next year
Bitcoin News Today – The past couple of months have not been favorable to Bitcoin (BTC). Since the digital currency hit its year-to-date high of $14k in June, BTC is down by about 50 percent. It recently plunged to a seven-month low of $6,400 due to selling pressure from weak hands and PlusToken. However, many analysts are still convinced that BTC still has a very bright future.
Recently, a popular crypto analyst – CryptoBirb – gave some reasons why he believes BTC has a very bright future. Here are some of the reasons why the price of Bitcoin will be bullish in 2020.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,193.08 |
0.017%
|
Bitcoin’s Long-Term Chart Is Extremely Bullish
A few weeks ago, the long-term chart of Bitcoin saw an extremely bullish sign from a macro perspective. The 50-week and 100-week SMAs saw a crossover, with the 50-week SMA crossing over the 100-week SMA. This means that the bulls are in control of the long-term trend of the digital currency. The last time this trend was seen was in mid-2016, before the parabolic rally that brought the price of BTC to almost $20k from $500 in a year and a few months later.
Bitcoin Futures Interest Is On the Rise
Over the past couple of months, the derivatives of BTC on different trading platforms have started to see a considerable increase in trading volume and open interest. This signifies an increase in investment activity from institutions. Many analysts believe that institutional inflows will be a driving force behind the next bull market.
Bitcoin’s Chart Is Painting Bull Flag
The chart of Bitcoin (BTC) is painting a massive bull flag, which many believe have a higher chance of breaking to the upside. If the bull flag breaks higher, it is more likely that the price of BTC would surge and break over the $10k level, which would pave the way for BTC to return to its previous all-time highs.
Strong Buying Pressure under $7k
The crypto analyst also pointed out that there is strong buying pressure under the $7k level. This indicates that there is strong long-term buying interest in the $6k range and that is a level in which Bitcoin should find a macro bottom.
Furthermore, Bakkt – the Intercontinental Exchange, Microsoft-backed digital currency infrastructure upstart and trading platform, and Starbucks, – recently launched its regulated BTC futures contracts. According to the analyst, this is a bullish fact that should have a positive impact on the market in the coming years. However, other analysts also believe that the futures of Bakkt and other derivatives like it would act as a catalyst for the next market rally.
