RATE Group | This Trend That Preceded Bitcoin’s 330% Growth in 2019 Forms Again
75462
post-template-default,single,single-post,postid-75462,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

This Trend That Preceded Bitcoin’s 330% Growth in 2019 Forms Again

12 Jan This Trend That Preceded Bitcoin’s 330% Growth in 2019 Forms Again

Posted at 11:07h in Bitcoin News by

[ad_1]

Ever since Bitcoin (BTC) started declining last July, falling as low as $6,400 by the middle of December, analysts have been wondering when bulls are going to step in and push cryptocurrencies higher once again.

Related Reading: Why Analysts Think Bitcoin Price On Verge of Crash to $6,000

According to institutional investment data in the form of the Commitment of Traders Report for the CME, which has its own Bitcoin derivatives, the bull run may soon start again. Here’s more on that.

Asset Managers Dramatically Increase Bitcoin Longs

Prominent cryptocurrency trader Cantering Clark recently drew attention to a very bullish trend via his Twitter.

He noted that per Commitment of Traders data, there has been a “dramatic increase in long positions” held by traders deemed “Asset Managers.” In fact, Cantering Clark said that this metric is now the highest its been since July.

While some may see this as a sign that asset managers are getting too bullish too fast, the trader noted that…

[ad_2]

Source link

Tags:
, , , , , ,