Analyst Predict a Bitcoin Bull Run

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It was the start of the bitcoin cycle as bitcoin prices were at $ 10,500 as on Sept 4 after the volatility in the prices of bitcoin settled down after a couple of weeks of sell-off as investors started offloading of their bitcoin portfolio. The latest round of data showed a price of BTC/USD settling to $ 10,520 from a high of $ 10,750 at the start of the week. The market was optimistic about the new start to the bitcoin cycle which was cut short the last time there was a rise in prices which fell to a low of $ 8000. Analyst suggests that the climate and environment were ripe for making an investment. It is the right to gain from the investment. Analyst tracking bitcoin developments confirm that the Bitcoin stock-to-flow ratio predicts the beginning of a fresh bull market. Confirming and posting on twitter to investors that bitcoin was all set to hit new high and was clear to take off.

Image source: www.crypto-news.net

Other sources also confirmed to the similar news about bitcoin hitting a similar high in the market backing it up with the data from last 20 weeks moving average. The 20 WMA has proven to be the supporting the price in the bull market and suppressing price in the bear market as said in the press release which is aids in the bitcoin cycle. He was also said to be quoting that he presumes that the bitcoin cycle is in its early stages. On the other markets Bitcoins, progress was negligible as there was no significant upward movement in their prices; in fact, there was less than 1% movement in terms of prices for the top twenty cryptocurrencies. The lists of gainers according to altcoin market were bitcoin cash (BCH), Litecoin (LTC) and NEO (NEO).

Image Source: toshitimes.com

Source: Coin Telegraph


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