Bitcoin BTC why it is not a bubble – last part

Bitcoin the most famous cryptocurrency in the world, which had been appeared in 2009 as a replacement for the traditional currencies system.

Since late 2015 and Bitcoin become a strong investment for most people, until Dec 2017, where Bitcoin collapse more than 85% from the highest price.

Most of the people think that Bitcoin collapse happened because of what they call it BTC bubble.

But we BorseClub have a different vision;

  1. BTC becomes part of the global financial market.
  2. Margin trade gives BTC a good opportunity to engage with real currency markets.
  3. The future contract makes a Bitcoin BTC high-risk asset.
  4. Bitcoin starts to be an investment option for many banks and hedge funds.
  5. Blockchain becomes one of the most important networks all around the world.

So how the above points will affect Bitcoin?

  1. From the first analysis of this series, we explained how Dow Jones and S&P500 could create a new rally.
  2.  A second analysis from this series, we explained also how Gold will start deep correction along with a decline in VIX indicator to show that the market will start the calm for a while.

From the above points, we can see that the high-risk market will start a rally soon.

Therefore, Bitcoin BTC will start the rally as it is one of the most important high-risk investment.

From the chart below you can notice 4 critical points:

  1. The cryptocurrency giant is trying to stay above the major trend line.
  2. Bitcoin had been rebounded from 100 Moving Average.
  3. RSI is around 56 point.
  4. BTC will activate flag pattern on the daily timeframe.

Bitcoin BTC

If bitcoin managed to stay above $12,000 and all other analysis of Gold, VIX, US30, and SPX moved like what we explained before then;
It will be a very good opportunity for BTC to hit $23,000 during Sep and Oct.

To review the previous parts please click here

Ahmad Alsheikh Ali
Ahmad Alsheikh Ali
BorseClub Founder, Trading and Development Manger

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