Bitcoin Price Rally by 2021 Looks Likely From Five Fundamental Factors
Cointelegraph
Published Jul 02, 2020 12:07PM ET
Updated Jul 02, 2020 08:40PM ET
The price of Bitcoin (BTC) has been bouncing in the range between $8,600 and $10,000 for the past two months. BTC has shown little volatility since May, following a critical rejection at $10,440. However, five major fundamental factors still point toward a prolonged uptrend by 2021.
According to data from Skew, the 10-day realized volatility of Bitcoin dropped to the lowest level of the year on June 24. This may indicate that traders are cautious because BTC is at a crucial price point. The performance of BTC over the next several weeks could hint at its price trend throughout the year’s end.
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Written By: Cointelegraph
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