In contrast to many traditional Assets, could BTC in the last 3 weeks pretty well from the Crash of 13. March recover, as the Bitcoin crash course to 3,800 USD. While the DAX from its High of 19. February is still less than 31%, the BTC price is almost back to the level that he’s started to the year 2020. But what next now? It is only a small correction within a larger downtrend or will it continue to climb? Several indicators suggest a continuation of the recovery hope.
Bitcoin exchange rate almost to the level of January
It’s been a remarkable recovery of the Bitcoin price since the Reach of the low-stand at 13. March of 3,700 USD has shown. This week the BTC price reached in the meantime, the 7,200 USD brand, which has 2 implications.The Bitcoin price increased from the previously mentioned Deep (up to 200 USD difference) to almost 100%. The BTC course is started with just under 7.200 USD to the year 2020, which investors who have invested at the beginning of January, are already almost back to breakeven.Overall, this is a very positive development, if you look at the current losses at the beginning of the year, for example, for the DAX. This is to start with almost 13.400 points in the year 2020 and almost 29% is still in the Minus. Since the development of the Bitcoin price watch.Currently the Bitcoin price is doped according to the trading view 6.770 USD and thus around 400 USD under the brand of 7,200 USD.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!
Indicators switch to green
The question that many traders and investors currently only, as it will go. In the long term, most are still bullish, however, as it looks in the short term? Almost a majority of one hears the opinion that it may not have been the extent of the current events actually, and the Bitcoin price will crash.But when it comes to some indicators, is not the arrival of more. As Bloomberg reported this week, shows the indicator, the said the rally in the Bitcoin price from mid-December to February advance, as the BTC price rose by 50%, a buy-Signal.
On the basis of the DVAN-buy and sell in addition to the jumped Bitcoin over a crucial resistance level and triggered a positive deviation and a buy signal. A similar Trend played out in January, before the rise of Bitcoin to over $ 10,000.
But not only the chart technically, the traffic light shows green. From the fundamental side, positive signals are coming. Looking for example on the Order book of the Exchange Coinbase Pro, you will see that it is much more Buy Oders, as the Sell Orders are from a certain Bitcoin exchange rate limits.
BTC order book… While I’m short-term cautious due to macro conditions, it can’t get any more long-term bullish than this: pic.twitter.com/snq8ISFMCF— Qiao Wang (@QWQiao) April 2, 2020
Like this morning from our Head of Content Daniel Wenz reported, is that in may of next Bitcoin Halving in stark contrast to the monetary policy measures of governments and Central banks-of-date. This combination could make BTC in the future to a also from the Mainstream, more and more reputable Store-of-Value, which could drive up the Bitcoin price after the Halving, in the long term in the amount. The only question remains:
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