BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Bitcoin is approaching his long term resistance.
I would like to see a re-test of this area before calling for a breakout.

We are still in the beginning of one of the biggest financial crisis, in a way that unlike the one in 2008, we have no real control over the problem: a virus. This is a bearish sign.

Why would it go up then?
My thoughts on this:
- We are a few days from the Bitcoin halving, which in the past was the catalist for bull rallies.
- Money is being printed and institutions are buying Bitcoin
- Bitcoin unlike fiat currencies, cannot be printed. Which makes his value protected against inflation , just like the kind of crisis we are living!

That makes a lot of bullish signs, but again I would say to be careful as this climb might not be natural.
I am and will always be bullish on the long run.

I wish you the best!

Cyato
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Comments

Very detail and useful; Thank You cyatophilum =D
+1 Reply
virus is not a problem as you have stated - it's the reaction of policymakers which is a REAL problem.
Reply
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