Bitcoin has experienced since its peak of 12,200 $ on Saturday a sharp decline.The bulls remain optimistic about the leading crypto-currency.A Fund Manager even says that the BTC Charts give him “all time high”-Vibes.
Could Bitcoin really reach soon to all-time highs?
Mohit Sorout – a founding partner of Bitazu Capital in the near future, a new all-time highs in Bitcoin.
On 5. August he has shared on Twitter the Chart below:
“This $btc chart is real and gives me the ATH-Vibes.”
The Chart shows that the volatility of the leading crypto-currency has reached a macro-economic turning point, which was last observed at the low of the price in the year 2019.
This period of low volatility suggests that Bitcoin will soon experience a macro-outbreak – possibly in the upward direction.
Chart of the price development of BTC in the last few years, with an analysis of Mohit Sorout, a founding partner of Bitazu Capital. Chart of TradingView.com
Not the only one who thinks so
Sorout is far from the only Fund Manager in the crypto-space, believes that Bitcoin will soon reach new all-time highs.
We take account of the fundamentals, there are many prominent crypto-currency analysts and investors are anything other than pessimistic.
Mike Novogratz, founder of Galaxy Digital, told CNBC in an Interview last week: He believes that BTC will reach in the year 2020, $ 20,000.
He does not comment on the ongoing money printing back by the Central banks, and argues that the Thesis is driving the boom in interest in Gold and crypto-currency:
“Great bubbles usually end with political steps. It looks as if the Fed would raise interest rates…, liquidity, history will not disappear. We will get a big Stimulus… A large part of the small investors ‘ interest shifted to the Story shares, Tech stocks, because they were just more fun. Yesterday, we saw a lot of money changed back to Gold and Bitcoin. There is an adoption game in Bitcoin, not in Gold. But I like both of you.“
Dan Morehead, and Joey pitcher of Pantera Capital to see it in a similar way.
In a Newsletter from the March of the investors in the crypto currency Fund in writing that the assets win assets to value, if the Central Bank prints money. Bitcoin is no exception to this rule.
“When governments increase the quantity of paper money, it takes more paper money to buy things, the fixed amounts, such as stocks and real estate over which you can without increasing the amount of money which would be to. I think that you are going to do. The logical consequence of this is that you are also driving up the price of other things, such as Gold, Bitcoin and other crypto-currencies in the height.“
You write that BTC could reach this new all time high in the 12 months after the took office in March and claimed as a reason, the time needed by the institutions, their Portfolios, re-balancing, and analyze.