These 4 Factors Show Why It’s Hard to Be Bearish on Bitcoin Right Now

There remain some Bitcoin bears despite the ongoing push higher. One trader said that due to BTC’s failed attempts to break past $12,000, the cryptocurrency could move towards the $8,000s or $9,000s. One fund manager, Charles Edward, in the space says that it’s hard to be bearish on Bitcoin right now, though. He cites a confluence of fundamental trends, four of which will be outlined in this article. How can you be bearish Bitcoin here? – Portnoy in Bitcoin– Fed investigating crypto dollar w MIT– Gold S/R flip– +26% Tether– 45% supply hasn't moved in >2yrs– Energy Value increasing > price– Mining profitable & price near Production Cost– Accumulation price structure — Charles Edwards (@caprioleio) August 13, 2020 #1: Bitcoin Is Being Adopted by Dave Portnoy This week, Dave Portnoy, the founder of Barstool Sports and a celebrity day trader, bought Bitcoin with the help of the Winklevoss Twins. Analysts…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE