As you can see Bitcoins price has had a strong pump as high as $5100 and a close over the 200 day MA.
Last year we had the dreaded Death Cross signalling an extended bear market, however the charts now show a possible Golden Cross on the horizon, this would confirm the Bull Market has officially begun. Article below:
https://steemit.com/bitcoin/@embomb701/death-cross-is-here-but-we-also-offically-went-below-the-over-sold-line-on-the-rsi
While it is too early to confirm that this is the Bull run, we all certainly hope it is. The RSI is indicating that this price action is going to turn back over soon but I am guessing just to cool off before continuing the run up to $5500. All we can do is continue to watch this market. Since Bitcoin has moved up the entire market has responded, all of the major players are in the green as I expected they would be.
Why: In my opinion since we have no news of an ETF or any other of the drivers that we were hoping for last year, I believe this market is begin to move because we are getting closer to the block reward halving next year. People are looking for reasons but this is the only one I can see, Bitcoin has historically made huge moves like this, this is precisely how it moves, big jumps out of nowhere.
News:
Digital Payment king PayPal has made an investment in Cambridge Blockchain startup.
https://coindoo.com/u-s-based-online-payment-giant-paypal-makes-first-blockchain-related-investment/
Final thought:
I am trying not to get too excited until I see the Golden Cross, but I haven't looked at my portfolio and smiled in over a year until yesterday, lets hope this rally continues.