The Bitcoin exchange rate is to its slight increase after the Halving at 11. May is now in a phase of consolidation and is trading at about 9,500 USD. Also, if this is measured in terms of the Price trends after the last Bitcoin Halvings quite good, many ask whether and when it will come back to a massive Bitcoin Bullrun as 2016/2017.
Since this question is the Holy Grail in the entire BTC and Crypto-Space, we present in this article an approach to an answer. Here, we look at many different areas, indicators, and reasons that speak for a new Bitcoin Bullrun. So much can be said: it was never been better for Bitcoin. The following On-Chain data, chart patterns and fundamental reasons will betray you. A lot of fun!
Contents
Bitcoin On-Chain data as it was before the last Bullrun
First, let’s take a look at the On-Chain data of Bitcoin. These are for forecasts of particular relevance, because they are one of the fundamental indicators, and a stronger explanatory power as the interpretation eligible for chart analysis.
Here are the company Glassnode is particularly for its analysis is known. As the company via a Twitter Post 60% of #Bitcoin is announced to “offer (is not moved) for over a year, what a stronger Hodl-shows the behavior of the investors.”
As shown in the corresponding image of the Posts by Glassnode, reached this On-Chain indicator is the targeted value of 60% for the last Time before the Bitcoin Bullrun, 2017, the rate rose from 1,000 to 20,000 USD.
60% of the #Bitcoin, the supply hasn’t moved in over a year, showing increased investor hodling behaviour.
Last time we saw these levels was right before the $BTC bull market of 2017. pic.twitter.com/mRXQmhUzGu
— glassnode (@glassnode) May 29, 2020
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BTC Chart pattern shows bullishes scenario
However, the On-Chain data from Glassnode are far from the only reason for a new Bullrun. Chart-technically Bitcoin has generated in the last few months, a very interesting pattern, the historically Large for the course suggests.
What is meant is that in the Chart of the Bitcoin price is the sequence of a Golden Cross, Death Cross, and then again a Golden Cross within 100 days. The last Time this chart technical sequence up to 2015, and the Bitcoin exchange rate went on to 6.400%.
The Analyst Nunya Bizniz wrote in a Twitter Post:
For the first Time during the lows in the year 2015, there was a sequence of a Golden Cross, Death Cross and Golden Cross, all of which occurred within the span of about 100 days. The price then rose to 6.400%. For the second Time during the 2020-lows this sequence occurred within about 100 days.
BTC daily:
For the 1st time during the 2015 lows there was a GC-DC GC sequence that occurred all within the span of about 100 days.
Price then rallied 6,400%.
For the 2nd time at 2020 lows this GC-DC GC pattern has again occurred within about 100 days.
Price wants to ……………? pic.twitter.com/8i4V1EjQiY
— Nunya Bizniz (@Pladizow) May 18, 2020
Macro-economic environment is perfect for Bitcoin
The third reason that speaks in favour of a inevitable Bitcoin Bullrun as in the year 2017, it was reported in the last few weeks and months very much. What is meant is the macro-economic development in the world, which is created on the paper as it is for Bitcoin.
In the Wake of the Coronavirus crisis were pumped according to Reports, since the beginning of the year 2020 already 20 trillion USD in the Form of stimulation packages by governments and Central banks worldwide into the financial system, and the end is not in sight.
Bitcoin as a stateless, censorship-resistant, digital money, which could be to a maximum of 21 million BTC is limited as it is not arbitrary multiplier visible Asset of this “money printing Orgy”, as you referred to Mike Novogratz, benefit.
Elon Musk has this summarized in a statement that was meant as a statement of Bitcoin to the Harry Potter author, J. K. Rowling, beautifully, when he wrote:
(…) the massive issuance of currency by national Central banks, Bitcoin is Internet money compared solid look.
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