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Home Cryptocurrencies

Is BitCoin Set for a Bull Run?

November 10, 2020
in Cryptocurrencies
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As of October 30th, 2020, BitCoin is five days away from trading above $10,000 for a consecutive one hundred days. It has held above this price for 90 days now, which was 30% higher than the key level in history. The only periods comparable to this was back in December 2017 when the commodity rose by 79% to an all-time high of $20,000 and in August 2019 when it traded within a 20% for close to 4 months. These exceptional readings cause the projection that BitCoin is headed for a prolonged bull run for the foreseeable future. This is further supported by the fact that the recent stimulus packages and liquidity pushes by the U.S. government have caused many investors to move wealth towards the safe-haven sector, with Bitcoin being one of the main assets in the sector.

Due to this flux, some market experts hold an optimistic stance in that the commodity will hold a reasonable upward pressure and simply journey towards a fair $15,000. This comes from the belief that to expect booming crypto prices across the entire market is farfetched.

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Copyright © 2020 - All Rights Reserved

Disclaimer: All content, posts, articles, pictures, links, and information published here and throughout LegacyFX’s Blog are for informational purposes only and do not constitute an official opinion or call-to-action by LegacyFX. Opinions and information presented here may not coincide with other market reports and experts. Nothing presented should be construde as investment advice, recommendation, or suggestion to perform an actions with a financial instruments. The company carries zero influence over any markets and signals. Therefore, the company cannot be held liable for nor guarantee any profits or losses.

All content rights reserved. When copying or republishing the materials presented here, a link to blog.legacyfx.com or attribution in the format of "Provided by LegacyFX Blog" is required. Failure to comply with this rule may result in legal action. For general questions, please contact us via the form on the "Contact Us" page.