Bitcoin Price Surges to One-Month High; Bullish Crossover Confirmed

Since the start of this year when crypto prices started tumbling, people have been seeking a simple answer to an equally simple question: what is making prices fall? To those who have suffered through the trama, you may have already thrown up your hands in disgust. But, this is an important question that needs an answer.  

After much reading, many studies place the blame on mechanical features. Most of these studies are pretty far fetched.  In reality, price movements in crypto bear remarkable similarity to about every other asset category. In each case, we are dealing with human emotions.

Why is it so important to isolate these factors? Because the very cause of losing more than 65% of its value can also drive Bitcoin back to $19,000.  The same is true of most altcoins as well.

Academic Fascination

So far this year the academic community has shown a fascination with trying to explain cryptocurrency movements based solely on correlation analysis rather than…