Positive signs
TronWallet's Director of Communications & Marketing recently tweeted a noteworthy figure, an indication of Bitcoin's momentum. Tweet has the following content:
Specifically, in the past 24 hours, up to 1 million Bitcoin wallets operated on the Bitcoin network. It is known that the last time this data appeared was on June 26, 2019. After that, on July 10, Bitcoin broke the $ 13,000 mark, setting a new high for 2019.
Besides, the following 4 macro factors also reinforce the view that Bitcoin will increase in the near future:
Bitcoin is the best performing asset in 2020, beating the US dollar and Gold amid the global economic downturn.
BTC is the best performing asset in 2019, up 92% while the US stock market only increased about 20%.
Halving is about to happen
More and more large organizations tend to accumulate Bitcoin.
The risk of short-term price decline is blocked
Although the market is showing more and more optimistic signs, besides that, we need to pay attention to some bearish signals.
The most prominent among them is the number of short positions on BitMEX.
Specifically, the selling position has increased to 30 million USD from 10,010 USD to 10,230 USD.
