The Bitcoin exchange rate this week is equal to 2 Times the brand of 10,000 USD is trying to break through. Both times he’s failed for the last Time yesterday morning, which of course fell to 9,200 USD. Meanwhile, the price for one of the coveted Thaler has caught up again from the setback and is listed at just under 9.350 USD.But where does it go after the strong recovery since April, and Halving this week? Many of the high hope in the next few months on a new all-time high. In this article, we want to devote ourselves, therefore, 3 reasons why a new Bitcoin price rally is becoming increasingly likely, and it could come soon enough. A lot of fun!
On-Chain Signal switches back to green
As the first reason for an upcoming Bitcoin price rally, we want to look at the On-Chain indicator called “Puell Multiple”. This analyzes the relationship of the USD-value of the day re-issued BTC with the annual average of the USD-value of the day re-issued BTC.This indicator was in the past, Often correctly, for example, he reached in front of the Bullrun 2012/13 and 2016/17, and the rally in the middle of last year, always a critical value signaling a new uptrend. This critical Zone has been reached again (green Zone in the Chart).Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!
BTC Fear & Greed Index shows no Overheating
Not all BTC Fans had after the 50% Crash on the 12. March expected such a fast recovery to more than 9,000 USD. Even today there are still voices that do not trust the Roast in the Form of the Bitcoin exchange rate and so on, a new setback waiting. The only question is: when will the recovery rally in the air?The market sentiment seems to be, despite the over 100%-to be cent price increase in the last few weeks, not overheat, so you could say that a pullback is likely. Quite the contrary: the Fear & Greed Index is currently only at a low average level of 41. Thus, it can be by no means spoken of great euphoria. Many investors are likely to be so in the case of the cases, therefore, the means and mood to fuel the Bitcoin rate with the new capital.
Bitcoin price rally due to increased demand?
The price of a Good is known to be a function of supply and demand. The offer was reduced on Monday due to the Halving successful significantly. However, as it looks at the Moment, with the demand?Also on the demand-side, the Bitcoin has a lot to Halving contributed to the fact that in the long term, more people buy Bitcoin, because the Event has attracted the interest otherwise rather less to do with BTC Interested.Furthermore, the increasing institutionalization ensures a long-term increase in demand. The fact that investors legend Paul Tudor Jones has invested with his Hedge Fund 1-2% of its portfolio in BTC Futures, this is only one example of many. The Macro Investor Alex Krüger writes on Twitter:
The letter from Paul Tudor Jones is most Bulli, what was ever written about Bitcoin, and he came from Tudor themselves. I see him as a change of the game. I think many Macro investors will follow him. Mandate changes and on-boarding need of the time.
In summary, we can say, therefore, that there are many reasons which speak for a continuation of recovery and a renewed rally in the Bitcoin exchange rate. However, there are also critical voices. No one knows exactly how BTC will again conduct, should it come to the stock markets to new course slides. If you’re still convinced of Bitcoin according to your own detailed Research, we still have a tip for you:
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