Co-founder and CEO kriptovalyutnoy exchange derivatives BitMEX Arthur Hayes (Arthur Hayes) believes that a rapid return to the level of the course Bitcoins $ 8000 after a brief fall confirms the steady upward trend of the market.
This is also indicated by the current situation of contango on the BTC futures market , when contracts are trading significantly above the spot price of cryptocurrencies, he added on Twitter.
“The bull market is a reality. Instant drop below $ 7 thousand, and a few days later we returned above $ 8 thousand, and contracts for September and December are in contango , ”wrote Hayes.
The bull market is real. We’re back above the Sepang and Dec. Booyah! pic.twitter.com/qknhDQ8i7p
– Arthur Hayes (@CryptoHayes) May 19, 2019
The well-known crypto trader under the nickname The Crypto Dog agrees with him, who noted in tweet that weekly record volumes of Bitcoin trade reinforce “the strength and validity of this bullish rally”.
Of a bullish Hell weekly address close e-on #Bitcoin with near record breaking volume, solidifying the strength and validity of the this rally. $ BTC / $ USD is full ?
Weekly resistance: ~ 8215
Weekly support: ~ 7300 pic.twitter.com/NpMIPxkcaY– The Crypto Dog? (@TheCryptoDog) May 20, 2019
Recall that in March, Arthur Hayes said that 2019 would be boring, but by the end of it Bitcoin (BTC) will grow to $ 10 thousand. And on the eve of analysts JPMorgan Chase warned that during the last bull rally, the price of BTC significantly exceeded the intrinsic value, just as it happened at the end of 2017. Then a similar discrepancy was eliminated by a sharp correction of the actual price of cryptocurrency, the bank experts recalled.
Publication date 22.05.2019
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