Bitcoin has recently surpassed $12000 mark and the mark sentiment is turning bullish over the past week.
Bitcoin Investors have been waiting for Bitcoin to surpass the All-time High $20000 mark .
This is not so far away But WHY?
There major reason that support this statement is that,
The Global Economy is about to face a recession, the global traditional market are now facing a severe crisis.
Dow Jones and Nasdaq fell by 2.9% and 3.4% .
And Bitcoin rises up by 10% in the last few days.
This clearly show that the clever investors are moving their money from the traditional markets into the crypto market.
Just think of this ,
If a fraction of traditional investors decide to enter the crypto market after the recession has more or less begun, that liquidation would very easily drive the price of Bitcoin above $20000.
it would just take a matter of days before this happen.
Another Reason I say this is that China has recently approves Bitcoin as a virtual investment and China is turning Bullish on the cryptocurrencies.
Recently a lot of volume has been recorded on the Chinese exchanges than usual.
These 2 Factors will be clearly enough to send Bitcoin back to the all time high $20000.
Just HODL.
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BYE!