Bitcoin Could Breathe in 2021

Bitcoin Could Breathe in 2021 Bitcoin could breathe in 2021. The leading cryptocurrency has been observed to continue its longest monthly streak available in more than a year, after hovering above $ 28,000 on Sunday. Based on the charts, Bitcoin could stall in 2021, Mark Newton, the founding chairman of Newton Advisors, told "Trading Nation" published on CNBC on Monday. “Given that it has hit an all-time high, it is still on a fairly upward trend in the medium term. I think we have a way to go. In the short term, the compound cycle shows that we will reach its peak in early January.” The famous analyst said Bitcoin's weekly chart and relative strength index reflect the growing interest in the world's largest digital currency, mostly from institutional investors. Mark Newton said in his speech that Bitcoin's weekly chart and proportional strength index reflect the interest in the world's largest digital currency, mostly from institutional investors. The indicator analyst said Google's bitcoin searches had increased by 750 percent from this time of last year, but still not close to their 2017 highs.   “You can currently earn 10 to 20 percent a day with SPAC (special purpose purchasing companies).” “You can currently earn 10 to 20 percent per day with SPAC (special purpose purchasing companies). While institutions are definitely moving in this direction, I don't think investors are very appetizing for crypto,” Newton's uses three different bitcoin cycle schemes to track changes in the cryptocurrency's path. The most important scheme for tracking changes in Bitcoin's path is 273 days and hints at an upcoming turn in the direction of the leading cryptocurrency.   Newton, who has long-term investments in Bitcoin, Ethereum, Litecoin and various digital currencies, said that he will turn his positions into sales in the next week or two. “I think there will be an opportunity to buy decline in the 1st quarter of next year,” he said. Boris Schlossberg, managing director of FX strategy at BK Asset Management, said institutional interest in Bitcoin is "a good sign for the asset". In his Trading Nation interview, Boris answered the question "Can it go up to $ 50,000?". Said, “If you want to trade or invest in this asset, you have to be prepared for a large amount of volatility.” “As for the final appraisal, it's impossible to say, if you look at the peak of the tulip frenzy in the 1600s, a tulip was at a price of a house. If you use this kind of valuation then Bitcoin has a long way to go and before the whole type of transaction is exhausted. It could be $ 150,000, $ 200,000. So, as many people say, there is a lot of potential, but when we get there, there will definitely be volatility.”     Source: https://www.cnbc.com/ You may also be interested in: Bitcoin Breaks a Record, As Ripple Falls