Bitcoin News Today – Headlines for April 21
发布时间：2020-04-22 09:29:53 发布人：TokenString
Bitcoin News Today – All through the past month, the world’s largest digital currency by market cap has been caught within a steady uptrend. The overt reaction of Bitcoin (BTC) to its capitulatory plunge to the low of $3,800 is increasingly looking like a long-term bottom. The bullishness of BTC’s V-shaped recovery has considerably increased investor sentiment. This has led many crypto enthusiasts and analysts to predict imminent upside in the mid-term.
This massive increase in sentiment is proven further by enormous growth on one of the fundamental indicators of Bitcoin. This means that if history repeats itself, the benchmark digital currency could soon experience a massive breakout rally.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$6,846.47
-0.84%
Bitcoin Will See an Enormous Breakout Rally If History Repeats Itself
The capitulatory plunge seen on March 12 was not expected and it pushed the price of the digital currency from the high of around $8k to the low of $3,800. Many analysts attributed the massive plunge to the torrent of liquidations seen on BitMEX, which placed an insuperable level of selling pressure on the digital currency.
Immediately the digital currency trading platform stopped trading on the platform because of a hardware issue, the selling pressure vanished quickly. This allowed the digital currency to start rebounding. The subsequent upsurge in the price of the digital currency from these low formed what seems to be a V-shaped bottom. This suggests that the digital currency might not revisit these levels for a long time.
This has significantly increased the bullishness of investors – an event that is designated while looking at the Net Unrealized Profit/Loss indicator of Bitcoin (BTC) from Glassnode – which indicates that Bitcoin is entering the optimism zone.
Will This Affect Bitcoin’s Price Positively in the Near Term?
According to Glassnode – a research platform – the implications of the Net Unrealized Profit/Loss reaching the “optimism” level is quite bullish as a similar patter flashed just before the massive rally of Bitcoin in April last year. Glassnode said:
“NUPL is approaching the ‘optimism’ zone as BTC passes the $7k mark. We saw a similar pattern in April 2019 – a breakout into this zone usually signifies increased investor confidence and can lead to further price gains,”
In April last year, Bitcoin (BTC) was trading around the $5k range before it experienced a massive upsurge that catapulted its price towards the $14k region in early July. If history repeats itself in the imminent months, the world’s most dominant digital currency could experience a similar price trend, which could result in an increase of more than 200 percent.
Bitcoin News Today – All through the past month, the world’s largest digital currency by market cap has been caught within a steady uptrend. The overt reaction of Bitcoin (BTC) to its capitulatory plunge to the low of $3,800 is increasingly looking like a long-term bottom. The bullishness of BTC’s V-shaped recovery has considerably increased investor sentiment. This has led many crypto enthusiasts and analysts to predict imminent upside in the mid-term.
This massive increase in sentiment is proven further by enormous growth on one of the fundamental indicators of Bitcoin. This means that if history repeats itself, the benchmark digital currency could soon experience a massive breakout rally.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$6,846.47 |
-0.84%
|
Bitcoin Will See an Enormous Breakout Rally If History Repeats Itself
The capitulatory plunge seen on March 12 was not expected and it pushed the price of the digital currency from the high of around $8k to the low of $3,800. Many analysts attributed the massive plunge to the torrent of liquidations seen on BitMEX, which placed an insuperable level of selling pressure on the digital currency.
Immediately the digital currency trading platform stopped trading on the platform because of a hardware issue, the selling pressure vanished quickly. This allowed the digital currency to start rebounding. The subsequent upsurge in the price of the digital currency from these low formed what seems to be a V-shaped bottom. This suggests that the digital currency might not revisit these levels for a long time.
This has significantly increased the bullishness of investors – an event that is designated while looking at the Net Unrealized Profit/Loss indicator of Bitcoin (BTC) from Glassnode – which indicates that Bitcoin is entering the optimism zone.
Will This Affect Bitcoin’s Price Positively in the Near Term?
According to Glassnode – a research platform – the implications of the Net Unrealized Profit/Loss reaching the “optimism” level is quite bullish as a similar patter flashed just before the massive rally of Bitcoin in April last year. Glassnode said:
“NUPL is approaching the ‘optimism’ zone as BTC passes the $7k mark. We saw a similar pattern in April 2019 – a breakout into this zone usually signifies increased investor confidence and can lead to further price gains,”
In April last year, Bitcoin (BTC) was trading around the $5k range before it experienced a massive upsurge that catapulted its price towards the $14k region in early July. If history repeats itself in the imminent months, the world’s most dominant digital currency could experience a similar price trend, which could result in an increase of more than 200 percent.
