The bounce-back of the Bitcoin prices are the biggest bulls signals than ever. Bitcoin is becoming a global policy issue. The response of Trump regarding Bitcoin put the issue back to the limelight.
The critical tweet from the US president ran thus “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
Josh Rager, in his market commentary, stated, “Boring market, no wonder everyone is talking Trump.”
Jeremey Allaire, tweeted, “Possibly the largest bull signal for BTC ever. Crypto now a Presidential/ Global policy issue. People everywhere will embrace a mix of sovereign and non-sovereign digital currency.”
The current statistics are indicative of a huge Bull run.
Technical indicators show that the MACD of the coin is showing average volatility with the MACD line crossing the signal line indicative of a bearish crossover.
The RSI has been above 40 and therefore not indicative of overbought and oversold trends. The Fibonacci resistance and support for the coin are seen at $12,000 and $11,300 respectively. Bitcoin has not lost its momentum.
The Bitcoin recently continues to shake off the opinions of naysayers. Most of the attention is drawn towards Trump.
In the medium-term, it has been seen that Bitcoin will become more profitable than Ripple. The growth of the Bitcoin over the past three months have been rocking the market. The impact of the growth of Bitcoin is seen in other coins as well.
Fascinated by the concept of Bitcoin, Andrew Courey penned, “I had the idea in five seconds and just went with it.” He wrote, “Early Bird Gets the Bitcoin.” For someone who does not know the Bitcoin, the book of this 13-year-old will teach.
Passionate hobbyists from across the world are repurposing the technology to send out the news, which theoretically cannot be edited by the corporations or governments. Safety First tweeted: “The future of open access to information is happening right in front of our eyes.”
A message elaborated the concept thus: “It seemed like the info you can receive without any third party interference would be of value to parts of the world where information controls (by the government or anyone) try to stifle […] access to news, information, or anything in between.”
Bitcoin can be fit into this kind of arrangement. The philosophy is that leaderless online money naturally provides a currency worldwide.
Grubbles stated, “Lightning is great for this since you can pay and quickly broadcast a message if needed, and also pay minimal amounts of Bitcoin if your data, or message, is small.”