26 Dec Five Reasons Why Bitcoin Price is Bullish Heading Into 2020
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The past few months haven’t been too kind to Bitcoin. Case in point, since peaking at $14,000 this June, the cryptocurrency has fallen by 50%, tumbling as low as $6,400 due to selling pressure from PlusToken and weak hands.
Despite this strong retracement, a popular analyst is convinced that the future is bright for BTC. He recently conveyed five reasons why this is the case, which NewsBTC will now break down in further detail.
We argue over short-term moves but big picture is clear👀
Let’s rock 2020💰
Who’s with me? pic.twitter.com/SmbIu5CgFB— Crypto₿irb (@crypto_birb) December 23, 2019
Number 1: Bitcoin Sees Long-Term Golden Cross
Earlier this month, Bitcoin’s long-term chart saw an extremely bullish sign from a macro perspective: the 50-week and 100-week simple moving averages saw a crossover, with the former crossing above the latter, signaling that bulls are in control of the long-term cryptocurrency trend.
This was last seen in mid-2016, prior to the parabolic run-up…
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