RATE Group | Top Analyst: Bitcoin (BTC) & Crypto Could Hit New Highs if Fiat Fails
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Top Analyst: Bitcoin (BTC) & Crypto Could Hit New Highs if Fiat Fails

08 May Top Analyst: Bitcoin (BTC) & Crypto Could Hit New Highs if Fiat Fails

Posted at 16:11h in Bitcoin News by

In brief:

  • Top analyst, @MagicPoopCannon, is cautious regarding the recent rally of Bitcoin (BTC) to $10k.
  • He cites that Bitcoin’s daily RSI as being overbought. 
  • He points out that the stock market is not out of the woods yet and any move down will impact BTC and other cryptos.
  • Additionally, he puts forth one scenario where BTC and Crypto will thrive due to investors losing faith in the global fiat systems. 

The Bitcoin (BTC) halving event is now 3 days away and interest in the King of Crypto and the industry, in general, has risen in the past few days. Clear proof of a renewed interest in Bitcoin can be seen in BTC recently testing $10,000 and trading at $9,980 at the time of writing this. Additionally, the industry got a massive boost only yesterday when legendary Paul Tudor Jones, let the trading community know, that he too was buying Bitcoin.

Bitcoin and Crypto Could Hit New Highs if Fiat Fails

Mr. Jones’ key reason for deciding to invest in…

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