Bitcoin Shrugging Off Stimulus and Election Fears is a Sign of a Bull Market

Bitcoin has undergone a strong rally over the past two weeks. Since the news broke that OKEx has restricted withdrawals, the cryptocurrency has gained approximately 25%, recently peaking at $14,100 on Saturday morning. Analysts say that BTC’s price action has been surprising, namely because there is much uncertainty in the markets. Bitcoin’s Resilience In Face of Uncertainty is Bullish For one, the stock market has begun to record a series of red days as the pandemic continues to sweep the globe, resulting in a second-wave of lockdowns. Qiao Wang, a prominent industry analyst, says that Bitcoin’s strength in the face of this is the sign of a bull market. He commented the following on the matter on October 30th: “#BTC has been shrugging off 3 simultaneous narratives from the traditional market – election, covid, and stimulus – as well a bunch of crypto exchange FUD since September. If you are…

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