$100,000 Bitcoin Imminent – This Time The Rally is Different

Price-Action analyst | 

THE BITCOIN MARKET CYCLE

The current bull market of 2020-2021 is completely different from the last bull market of 2016-2017 though the technical chart analysis shows quite a lot of similarities however the fundamentals backing it up are completely distinct.

Let’s highlight some key fundamental differences below.

2017 Bull Run: Propelled by retail investors looking for quick gains and easy ways to get rich.

2020 Bull Run: Propelled by institutional investors having come to full understanding of the idea about bitcoin as seen in the embrace of the likes of Paypal, Square, Sachs, etc.

2017 Bull Run: ICO Scams, hacked exchanges and high peak of Fraud

2020 Bull Run: National acceptance as seen in the removal of bans, more regulatory bodies, Taxable asset, etc. Real-world crypto implementation, quality projects, more crypto security and exchange reliability.

2017 Bull Run: Less recognition, several bans and no national acceptance.

2020 Bull Run: Full recognition as a store of value and a hedge against inflation(as seen by Goldman Sachs, JP Morgan, Citibank, Grayscale,etc).

2017 Bull Run: Limited options for crypto purchases and access to bitcoin

2020 Bull Run: Unlimited options to purchase bitcoin and cryptos, as the likes of Paypal, Binance, Simplex, bitcoin ATMs and so much more availabilities…

Considering the solid fundamentals backing up the 2020 rally and not just the regular online hypes and shilling. This time around the rally will be nothing like we have ever seen a mega change is about to happen HODL your lots folks

There’s just 16million of this.

🟢 Trend Resistance R1: $20,000
🟠 Trend Support S1:  $16,000
❇️ Key Resistance R1: $25,000
🔴 Key Support S1:  $13,000
⬆️ Trend Indication: Bullish

Disclaimer

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. NiclaxFX (NFX), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Enjoyed reading this article?

Share with others on your favorite social media or leave a comment below...

Share on facebook
Facebook
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on telegram
Telegram
Share on linkedin
LinkedIn
Nicholas Ilechie

Nicholas Ilechie

Nicholas llechie is an entrepreneur, investor, trader, author and financial market analyst with over 7-years of experience in trading the financial markets, he started his trading career with binary options in the year 2013 and by 2015 he indulged into forex trading by 2017 made his first crypto investments and ever since has been actively involved in both crypto and forex related activities.

Leave a Reply

You May Be Interested In

NFX OWL TEACHER

NFX Market Analysis Premium: Daily Forex and Crypto Analysis

Price action is a concept of trading heard by many yet understood by few, in a nutshell price action is the movement of a security's price plotted over time. Price action forms the basis for all technical analysis of a stock, commodity or other asset chart. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action since it uses past prices in calculations that can then be used to inform trading decisions.
Mastering the art of price acton trading does not only make you a better trader but gives you a great edge over other traders and enables you trade on nearly all financial market including, stocks, crypto and futures.

NFX Market Analysis Premium: Daily Forex and Crypto Analysis

Price action is a concept of trading heard by many yet understood by few, in a nutshell price action is the movement of a security's price plotted over time. Price action forms the basis for all technical analysis of a stock, commodity or other asset chart. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action since it uses past prices in calculations that can then be used to inform trading decisions.
Mastering the art of price acton trading does not only make you a better trader but gives you a great edge over other traders and enables you trade on nearly all financial market including, stocks, crypto and futures.