As the majority of traders, I was looking for an entry around $9.5K but as it turns out, the support levels around $10K are stronger than expected. The bears have had few attempts on either closing the CME gap or even pushing the price of bitcoin all the way down to $9k and every time it bounced back.
In the last couple of months, we have seen a lot of businesses, individuals, corporations investing their money in Bitcoin as a hedge against the current fiat-based monetary system. People with loads of cash need a way to preserve the value of their portfolio not giving a shit about speculations, trades, or anything like it.
That could explain some things...
On-chain analysis suggests that the number of Bitcoin held on the exchanges is gradually decreasing, implying that a possible bull run might be around the corner. Sure, this might be just shit matric, but it does, however, indicate there are more people believing in the long-run value of the worlds strongest network.
If Donald Trump wins the elections and continues on with a QE practice, the price of bitcoin could increase exponentially. Given the fact that the US already proved to be in favor of printing money out of thin air, I don't think the sentiment will change anytime soon.
If you're from the US I would advise you to invest that money into Bitcoin while the inflation continues to devalue your hard-earned money. The corona shit is obviously a scam, and while I'm not trying to negate its existence, I'm more than sure that a lockdown is just the way the elite will explain the economic collapse.
Opt-in Crypto lads, don't get yourself fooled once again, the power is slowly shifting towards early adopters and it's just a matter of time when the wealth distribution disrupts the current World Order.
FUn times ahead.
