After trying for the second Time within a week decisively above $ 10, 000 in addition to has a Bitcoin rejected it and crashed on Friday up to 9,200$. Some fear that this Hesitation in pointing to the major resistance of $ 10,000 to the fact that BTC return to a bear trend.
The analysis of a popular Traders suggests, however, that the persistent looks like the end of Bitcoin price action similar to BTCs recovery from 500 $ to 20,000 $ over the span of one and a half years.
Bitcoin looks to be the low point of 2015 very similar
A crypto-Trader, according to his algorithm the fractal analysis that the price action of Bitcoin from November until now is 76% similar to the price action that was observed close to the Macro-valley of 2015 to $ 200.
The Bitcoin-fractal analysis of the Traders Polar Hunt (@Polar_Hunt on Twitter) shows that the current price action corresponds to 76% of the Macro bottom of the previous cycle at ~$200.
Although it is not a perfect Fractal, indicates in the Chart that the crypto-currency, is experiencing the BTC should follow the Fractal completely, soon another full-blown bull run, which is characterized by exponential gains.
This is confirmed by the On-Chain-analyst Philip Swift. The comments that Bitcoin has printed recently is exactly the same On-Chain Signal, which was to be seen, as the crypto-currency in 2015, $ 200, and in 2018 reached to 3.150 $, a record low:
“The decline in revenue from the Mining sent Puell Multiple today back in the green Zone. This Zone is a great time to buy BTC on L/T, (18 months+) horizons.“
Fundamentals supporting the Bull Case
While skeptics doubt that Bitcoin will rise to $ 20,000 and, in addition, support rally, the fundamentals, allegedly, the expectations of a further full-grown Bull.
In a speech in front of the CNBC Panel, “Fast Money” after the halving of the Chairman of the Board of Galaxy Digital, Mike Novogratz stressed that He was still of the opinion that Bitcoin is on track to exceed this year the 20,000 Dollar mark.
Novogratz supported his prediction with regard to the trillion-Dollar stimulus by global governments, as well as the record number of liquidity operations of the Central banks.
Together with the positive macro Outlook, Novogratz, is particularly positive that Paul Tudor Jones gets on the Bitcoin space, the legendary Macro hedge Fund Investor.
Why this is so is not explained closer to the Wall Street Investor.
But as Max Keiser is a TV presenter and one of the first public reports on Bitcoin in a recently televised Episode of his Show, said: If Jones‘ Bitcoin is returns allocation of significant flows of institutional investors into the space and try to Win to emulate.
“I think (Paul Tudor Jones is investing in Bitcoin) is a groundbreaking event for the Bitcoin story… He is a Alpha dog in the Hedge-Fund industry, so when he starts to generate Alpha in his Fund – if he starts, his competitors, all of which exceed about 10,000 Hedge funds out there – you will be forced to jump on. You will need to invest 1, 2, 5, 10 % of your portfolio (in Bitcoin).“