3 February 2020 by Victor
The director of Fundstrat Global Advisor has recently worked on the analysis of the price of bitcoin and felt that the year 2020 should be filled of feat for this crypto-currency. Considering the whirlwind opening of the BTC in January as a basis of recovery, it is estimated that the succession of different parameters on the technical level of which the division of the rewards of blasting (halving) will help to keep pace uptrend throughout the year.
Bitcoin is still on course for 200 days
After having experienced its highest peak in 2017 before falling into a deep sleep of a dozen months to regain its reputation in 2019, the Bitcoin has revealed all the facets of its character as a speculative investor.
If the market of the crypto-currency of Satoshi Nakamoto is thus capable of passing a peak of $ 20 000 to less than 3000 dollars in only one year, it is quite conceivable that the opposite could happen in a few months.
The past few months, the BTC has taken a moving average for 200 days, to negotiate with more than 9000 dollars currently. In this perspective, analysts such as Tom Lee believe that this is a sufficient indicator to determine the bullish momentum for 2020.
The reduction of rewards is a leverage effect
Without resolving the matter of the recovery of the price of bitcoin on the simple statistics of the market, Tom Lee also borrows some technical data to support his optimistic forecast in respect of the bull market.
Thus, the head of Fundstrat Global Advisor think that the reduction to half of the rewards from mining is ” an imminent change on the supply and demand “, which will certainly boost the investors.
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