Bloomberg predicts a bull run before end of year

in #trading6 years ago (edited)


Source: bloomberg.com

Bloomberg is seeing green signs for end of year of Bitcoin and crypto bull run.

“A technical indicator for an index tracking some of the largest digital currencies suggests the crypto industry could be poised to break out of its recent malaise and rally at year end.

The MACD, or moving average convergence divergence, gauge for the Bloomberg Galaxy Crypto Index entered its first positive divergence in a month. The move corresponds with an upward trend in Bitcoin, which makes up around 30 percent of the fund.”
Source: bloomberg.com

Kenneth Sexton, Bloomberg technical analyst predicts green light for the long term, but Mike McGlone, Bloomberg Intelligence analyst is not on the same boat. Last month he told CNBC that he think the technical analysis shows a bearish market.

I personally think bitcoin will hit $8000 before end of year. We are definetely on a huge demand area, so it's only about time before the crypto market will explode.

Disclaimer: Trading has a high risk level and may not be suitable for all investors. Before you decide to invest, carefully consider your investment goals and risk willingness. The possibility is that you can sustain a loss of some or all of your initial investment and therefore you should not invest money that you can not afford to lose. You should be aware of all risks associated with currency trading and seek advice from an independent financial adviser if in doubt. I'm not a financial advisor and there is also no content in this article that is presented as financial advisory.

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Okay I willl Hodl until year end. :)

Always hodl 😎

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Cool 👌

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Will this crypto winter ever end? I think I'm starting to get frost bite.

Great news,Everhone waiting for this.Hopefully bitcoin and steem price going up.

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I hope its true. I'd sell the small amount of bitcoin I have if it hit 20k. I realized you have to make profits at some point.

Let us certainly hope so!