It seems that the growth of the Bitcoin exchange rate is now accompanied by a wide investor interest in this coin. Let's look at a number of reasons that probably played or are playing a significant role in the new rally cryptocurrency .
Fidelity will launch cryptocurrency trading service for institutional investors
In recognition of the cryptocurrency of the American company Fidelity worth $ 1 trillion. I promised to integrate “institutional Bitcoin trading” into my services.
More than 22% of Fidelity's institutional investors already own Bitcoin (BTC) in their portfolios , while half of the investors are thinking of integrating the company.
Wanting to meet the needs of its investors, Fidelity is going to expand the institutional Bitcoin trade through its platform Fidelity Digital Assets.
Growth in the number of transactions and hashrate on the Bitcoin network
Bitcoin is slowly and truly moving towards mass recognition, and its hash rate has increased by 377%:
The number of transactions in blocks also increased by 20%. It seems that these signals, together with the growing interest of investors in Bitcoin, indicate that the coin is on the path of mass recognition.
Does the story of the 200 EMA repeat?
EMA – an exponentially weighted moving average – is a signal that helps investors make decisions on their favorite cryptocurrencies.
In October 2015, when Bitcoin broke through the 200 EMA line, it became apparent that the coin would play a dominant role in the cryptosphere. It seems that in recent weeks, bitcoin steps have been similar. The coin took advantage of a short-term rally and crossed the line 200 EMA. Can history repeat? It looks like yes!
Bitcoin ETF Approach
Exchange Traded Funds – ETFs, registered with the US SEC, help track the movement of commodities such as gold.
In the same way, they could help to invest in the Bitcoin market without the risk of buying or selling the underlying asset. In recent years, Bitcoin enthusiasts have expressed a great desire to work with such a tool, but the SEC does not miss Bitcoin-ETF .
However, the light at the end of the tunnel appeared to have appeared – recently the American Stock Exchange Trust Company also submitted an application for Bitcoin ETF.
At the time of the preparation of this post, according to CoinMarketCap, the bitcoin rate was $ 7008 with a market capitalization of $ 125 billion.
Peter Brandt on Bitcoin
Known for his accurate predictions about the bear market of bitcoins (since January 2018), popular cryptanalyst Peter Brandt once again rose to the mark, having made a prediction about bitcoin.
In his latest analysis, he made a comparison using the weekly moving average (MA), saying that Bitcoin can simply break through $ 6000 and continue on its way, as it was in November 2015, when it moved from $ 340 to $ 19,800. Breaking through this psychological line Bitcoin really started a significant “parabolic” movement.
Ichimoku analyst predicts $ 10,000
Among the bitcoin predictors who "push" the coin to victory, there was also a technical analyst at Ichimoku, Mitoshi Kachu.
He said that Bitcoin will overcome the $ 6250 mark on May 14-15, but this happened on May 10. In his opinion, this level will give impetus for the race to $ 10,000.
Publication date 13.05.2019
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