The MVRV ratio is firmly sticking to its 2-year uptrend, with support in place for fresh all-time highs, says Stack Funds.
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The MVRV ratio is firmly sticking to its 2-year uptrend, with support in place for fresh all-time highs, says Stack Funds.
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The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”
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The price of Bitcoin rejected $11,500 in a swift price drop alongside rising shorts on BitMEX and slumping U.S. stocks.
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Futures volume and open interest spiked at derivatives exchanges after Bitcoin price hit $11.7K, highlighting increasing participation from institutional investors.
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The information in the report appears to confirm what many in the industry already believed to be true.
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Bitcoin may have solidified a price base due to big player purchases.
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Referring to Bitcoin as a commodity seems to show a maturing view of the asset.
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Social sentiment data, strengthening fundamentals and on-chain analysis suggest Bitcoin is on the verge of a 2017-style bull run.
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Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.” $1 Million Bitcoin in 5 Years Former hedge fund manager Raoul […]
The post ‘Enormous Wall of Money’ Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal appeared first on Bitcoin News.
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“You’ll see some amazing things happen with Bitcoin in 2021,” the analyst said.
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