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Market Mood BTCUSD 13.10.20

Market Mood BTCUSD 13.10.20

Market Mood BTCUSD 13.10.20

in Weekly Forecasts

Listen to the latest market mood for the BTCUSD.

Bloomberg Intelligence had a recent report on Bitcoin where they projected Bitcoin could rise to $100,000 in the next 5 years. The Bloomberg intelligence piece had a number of key points.

There is limited Bitcoin supply in a very favourable macroeconomic environment (low rates, QE etc). As stocks underperform that encourages even more QE and rising debt to GDP ratios. These are tailwinds for gold and bitcoin (via a weaker USD). There are favourable trends in decentralised finance (DeFi) and exchanges (DEXs. About 90% of the 21 million Bitcoins that will ever be mined have been. Bitcoin looks to be the leader in a paradigm shift towards digital money and stores of value.

Therefore expect BTCUSD buyers on a trend line break on the weekly chart.

Trade Risks:

  • Heavy risk-off markets result in Bitcoin falls.
  • A change in Bitcoin’s appeal as the go-to cryptocurrency.

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Legal Forms & Documents

Risk Warnings

Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

Copyright © 2023 HYCM