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Market Mood BTCUSD 26.10.20

Market Mood BTCUSD 26.10.20

Market Mood BTCUSD 26.10.20

in Daily Forecasts

Listen to the latest market mood for Bitcoin.

There has been a major shift in the perception of cryptocurrencies that has happened recently. PayPal’s willingness to endorse the use of cryptocurrency by its large user base put Bitcoin firmly on the map and gave it a stamp of approval from mainstream headlines. The rise in central banks looking at using digital currencies also means that PayPal is getting ready for a new, digital future.

Furthermore, renowned hedge fund manager Paul Tudor Jones said in an interview on CNBC last week that he was more bullish than ever on Bitcoin. Bloomberg’s intelligence report forecast Bitcoin at $14,000 by year end and JP Morgan’s Global Quantitative and Derivatives Strategy team sees Bitcoin having considerable upside potential. Bitcoin’s appeal is set to reach more traditional and highly capitalised investors.

Therefore, in this environment expect Bitcoin buyers on pullbacks.

Trade Risks: The main risk to this trade is if Bitcoin loses support from mainstream media.


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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