Bitcoin flirts with its yearly high

By ircrp | ircrp | 21 Oct 2020


With uncertainty ahead of us in terms of the prolonging pandemic, the upcoming U.S. elections and some pending actions such as Mt Gox rehabilitation plan, the last weeks of price action of Bitcoin remains bullish. As of the time of writing the Bitcoin's volatility is pushing the price into the 2020's yearly highs and teasing on a breakout above it.

  • With the volatility finding its lowest points since 16 months and at the same time Bitcoin managing to find multiple supports on the 20 week moving average something definitely was brewing since the past few weeks to avert the lack of action in terms of volatility.
  • Paypal is now set to allow buying, holding and selling Cryptocurrencies including Bitcoin.
  • Institutions such as Microstrategy and Square are no longer resistant investing into Bitcoin and in fact disclosing those investments to the public knowledge.
  • Some researches indicate that Bitcoin is now being favored by Investors when it comes to a choice between a Bitcoin or Gold investment. For example Russia is reported to be the first country to favor Bitcoin rather than Gold looking at the investments in the past 12 months.
  • The IMF has recently published a speech setting a scene for an incoming big change and a possible great financial reset.



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