Bitcoin Weekly Outlook: PayPal FOMO 2.0 Validates $20K Target

x1hkxEZI 980x580

Bitcoin’s bullish fundamentals continue to overshadow its bearish technicals. The last week saw the cryptocurrency on a tear even as it traded way above its actual current rates. It established another year-to-date high — and retested a three-year peak — at $18,980. Meanwhile, its momentum oscillator, the Relative Strength Indicator, continued to alert about its “overbought” signals. Bitcoin RSI remains overbought for weeks, anticipating massive downside corrections. Source: BTCUSD on TradingView.com The incredible uptrend took place without concrete hype. A mere check on the keyword ‘bitcoin’ on Google Trends shows no booming number of searches. In comparison, Bitcoin’s previous bubbles towards its all-time high levels in 2013 and 2017 had the Google searchers on a tear. That somewhat explains the current price rally is institutional, i.e., fewer investors with big bags of capital to buy Bitcoin. A California-based investment firm provides evidence about how the world’s biggest payment firm is…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE