Bloomberg reported that Bitcoin’s GTI Global Strength indicator has given buy signals for the first time after the March crash. When this signal last appeared, the price had risen 200 percent in five months.
Bloomberg reports that after weeks of going around $ 10,000, technical indicators show that Bitcoin is preparing for an explosion.
The GTI Global Strenght Indicator gave the first buy signal after the coronavirus-induced price collapse in March following Bitcoin’s rally of 200 percent in five months.
The Fed announced its interest rate decision today and rates have not changed as expected. The bank promised to keep its monetary policy loose until inflation rises above 2 percent and remains there for a while. The leading crypto money, which saw $ 11,100 before the Fed’s announcement, finds buyers at $ 10,995 in the minutes of the news.
With this rise in the Bitcon price, most of the altcoins either stagnated or lost their value.
“The price of Bitcoin reflects the belief that it is a hedge against the overall global economy,” said Steve Ehrlich, CEO and co-founder of Voyager Digital. Bitcoin is extremely durable and continues to prove its position as a reliable store of value as Bitcoin is increasingly being adopted with better regulation in its favor. used the expressions.
Nigel Green, CEO and founder of financial consultancy company deVere Group, said, “Bitcoin is very interesting for investors in an uncertain but increasingly digitalized technology-oriented world with features such as fixed supply and immutable, distributed and decentralized. I believe that the status of Bitcoin, which has already won the “digital gold” label, will grow exponentially in the next year or two. ” He spoke in the form.