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Bitcoin Prints Two Technical Trends Last Seen at the Start of the Rally to $20,000


Bitcoin Prints Two Technical Trends Last Seen at the Start of the Rally to $20,000

While Bitcoin is trading more than 150% above its March lows, there have been some doubts that the cryptocurrency is going to enter a full-blown bull run. Skeptics of the bull case cite trends like the economy, which still remains in a dismal shape despite trillions of dollars worth of stimulus from the world’s governments. The World Bank estimated that global GDP will drop more than 5%, the largest drop since World War 2. And the Federal Reserve is projecting the worst modern economic slowdown. These trends could suppress Bitcoin as it would deter retail and institutional traders from putting money into a space that they may see as relatively risky compared to, say, bonds. However, key technical and on-chain signals are showing that the start of a bull run might be nearer than we think. Read More...