Cryptocoin – Bitcoin rally reaching the last $ 10,000 attracted the attention of leading traditional analysts and investors by refreshing investor interest in the market
A leading commodity strategist in Bloomberg announced that he believed that BTC and gold were the two most appreciated assets throughout 2020
This approach occurs when the technical appearance of the cryptocurrency begins to become incredibly bright.
Bitcoin has trended up tremendously in mid-March, beginning at its lowest level of $ 3,800.
While the climb, which later increased to $ 10,000, revived the crypto investors, it also attracted the attention of traditional investors who were keen to discover assets that could see high performance in the global turbulence fund.
Bitcoin Highlight from the Famous Investor
Earlier last week, the legendary macro investor Paul Tudor Jones made a spotlight on the indicator cryptocurrency after making a venerable promise to BTC in his statement on his recent market outlook.
Now, a meta strategist in Bloomberg Intelligence claims that there are two assets Bitcoin and gold will appreciate over the next year.
Of course, this is not the first time Bitcoin has risen to $ 10,000 in the period following the 2018 collapse. However, every rise above this level was followed by tremendous downward movements shortly after.
Is It Different From Past Movements?
It should be noted, however, that this movement is different from the movements seen in the past, as it was driven by spot buying pressure rather than margin in the past.
This trend is explained when looking at decreasing open positions. This is a sign that leveraged traders have been largely ignored during this last rally.
Raoul Pal, a global macro investor and founder of Real Vision Group, explained that the chance of seeing much higher prices in Bitcoin increased significantly as a result of the cryptocurrency exceeding $ 10,000 in the tweet series.
Mike McGlone, a top commodity strategist at Bloomberg Intelligence, said in a tweet yesterday that he believed there were two assets that both Bitcoin and gold would appreciate over the next year.
“Bitcoin and gold are behind our unique central bank approach, above our list of assets likely to be appreciated in 2020. Both had important tremors. Bitcoin will be over a long trading period in a range and eventually higher levels in our opinion. ”
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