Bitcoin is finally writing beautiful green figures. The price of bitcoin danced between 9,400 and 9,700 dollars for a while, but yesterday the price suddenly jumped up.
You can see that clearly above. Within 24 hours, bitcoin not only broke through the channel to $ 9,700, but it popped to the peak of $ 10,464.
And crypto would not be crypto if it did not involve a little FOMO (for the newcomers: fear of missing out). Various analysts see this rise as the prelude to a one-way ticket to the moon.
The bulls take you on their rocket
Raoul Pal is one of many who still takes a bullish position on Bitcoin. Paul is a former hedge fund executor at Goldman Sachs, and he is the current CEO at Real Vision. He can hardly contain his enthusiasm. According to Pal, the market is now completely bullish (upward trend) and this is your last chance to step in.
If you don’t have any bitcoin $ BTC #bitcoin then this looks like the last time to board the rocket ship…
I LOVE wedge patterns like this. They have a high probability of success.
Good luck. There is a “shit ton” going on in macro land. pic.twitter.com/tmNzxkcgTQ
– Raoul Pal (@RaoulGMI) September 1, 2019
Macro economy
Pal cannot see the course separately from the larger picture. The global economic developments could follow him to work in favor of bitcoin. He believes that US government bonds yield less and less and can even fall back to a minus of four percent. The impact of this on the financial market would be catastrophic, and therefore good for bitcoin, according to Pal.
In addition to America, the rates in Japan and Europe are also being reduced. Pal is therefore of the opinion that bitcoin can just become a so-called safe haven: a safe means to store value.
Bitcoin is not rising because of safe haven but because of gambling
Pal gets counter gas from Peter Schiff. This trader is known for his belief in gold and aversion to bitcoin. Sometimes his negative attitude and bitcoin seem to predominate. Something that is being noticed more and more by the cryptocommunity, witness the reaction of Pomp.
He thinks that BTC’s price increase can only be attributed to speculation. And not because investors see bitcoin as a refuge from the escalating trade war between the US and China.
Dear Peter,
You’re doing a great job marketing Bitcoin. Keep up the solid effort. We really appreciate you educating about the future gold bugs
Love,
Pump– Pump ? (@APompliano) September 2, 2019
With Bakkt in prospect, bitcoin dominance is increasing
On the price page you can also find the dominance of bitcoin. It was higher than seventy percent for the first time this year. Analyst Josh Rager expects bitcoin to remain so dominant, certainly with Bakkt in the offing.
$ BTC dominance monthly chart looks like the end to the bottom of a market
Looks as if BTC.D capitulated, “v” bottomed followed by a strong recovery
At 72% now, highest since July 2017
With Bakkt coming, we may not see a strong pullback in BTC market dominance anytime soon pic.twitter.com/lhaA6OWom3
– Josh Rager ? (@Josh_Rager) September 3, 2019
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