A week in the green in perspective for Bitcoin (BTC): the 2 successive green candlesticks of May 27 and 28, 2020, gave a good boost to Bitcoin, after its big drop to the level of 8,700 USD during the day May 24, 2020. Bitcoin is at the level of $ 9,533 at the time of writing; the week was not easy for BTC – a big daily candlestick, attacks by Goldman Sachs and his other detractors – but, Bitcoin has proven once again its strong resistance and resilience.
Bollinger and his band of bulls
The creator of tapes Bollinger, John bollinger, tweeted yesterday, May 29, 2020, where he says he sees a “Beautiful rally” for Bitcoin, if the latter was able to cover their ears, to avoid hearing the songs of the sirens.
The metaphor of Bollinger reminds of a Bitcoin which is approaching a crucial inflection point for bulls.
Data from Glassnode show that just like in the previous bull run, 60% of BTC haven’t moved in a year.
Almost an entire continent without BTC
The trader at the head of an investment fund BTC, Marius Landman, tweeted today, where he deplores the maneuvers of the Russia and some China, to prevent people from buying BTC.
The bill allowing the Chinese to bequeath cryptos as an inheritance has probably delighted some cryptophiles, notably the most optimistic; Bitcoin however, could in practice somehow be excluded from the list – the China Didn’t she make this law just for her crypto-yuan and the crypto-assets that the state could release in the future?
Bitcoin has taken hits this week, it has always taken it and will certainly take it again but, the dean of cryptos is not yet ready to stay on the ground at the moment. Will Bitcoin manage to cross the liberticide barriers of Russia and China, even preventing its people from freely choosing whether or not to have BTC? Bitcoin: a political battle more than an economic one, when you think about it.
Litecoin, welcome in the Silver Age