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3Is Bull Run For Bitcoin on the Cards? Possibly!
After the better part of 2017 and the remainder
of Hot Cake in early 2018, the price of bitcoin
rose to 6,200 in February 2018. However, if the
trends are to be believed, the fortunes of
bitcoin may revive. If it does, it will mark
another bull run for bitcoin, and it is the
longest.
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4So, What Do The Trends Say?
The current price of bitcoin is 8,329. However,
each time it was above the 8,500 mark, it was
rejected by investors on 1 October. In fact,
Bitcoin had a pullback of 400 in price to keep
prices stable. This would have ended the lows at
7,700. However, bitcoin's MACD histogram
suggested otherwise, as it recovered
substantially from -236 to reach -56 after 26
September. This may mean that the recession has
passed, and the arrival of the bull period is
awaited.
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5Impediments in Bull Run for Bitcoin
Bitcoin mining on a 200-day moving average may
face stiff resistance during its resistance. It
is currently 8,503. Crossing this mark for
bitcoin can be extremely challenging. The bull
run will begin to decrease again if investors
make up their mind not to put their money in
anything over 8,000. Currently, it looks
unlikely, though. But it is also true that any
attempt to move beyond the 8,800 mark may not
yield any results due to the biased attitude of
most period charts in a recession.
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6Conclusion
Whether or not this bull run sustains for long
remains to be seen. However, trends seem to
support yet another bull run for Bitcoin and it
is happening for sure.
Source
https//blog.cryptoknowmics.com/is-bull-run-for-bi
tcoin-on-the-cards-possibly/
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