Bitcoin has crossed the $8000 mark, and investors are salivating at the prospect of the market continuing with its rise and on towards an all-time high – that may still be some time off, but the prospects are not unlikely.
The 200 day moving average, which Tom Lee of Fundstrat has pointed as being an important indicator of a bull market, is being viewed by many as a pointer for where the market might go. Noted crypto analyst Willy Woo has tweeted the same, saying,
Willy Woo recently analysed Bitcoin as a payments company as opposed to a digital currency, and mentioned that if it were so, it would have made $300 million in sales. – despite the great crash of 2018.
All signs point to a healthier market. Another prominent trade, Peter Brandt, who called both the 80% drop in 2018 and the current bull run, has also said that good trends are likely.
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