3 reasons make the new bitcoin (BTC) is incoming

TL; D

• Bitcoin’s recent outflows of stock exchanges and other vital factors support the issue to push towards the highest new level ever.

• However, the increasing RSI indicates that the original may be at the height of the peak and weakness of a short -term decline.

New peak on the way?

the The price of the leading cryptocurrency It has flourished recently, and briefly climbed more than $ 104,000 earlier today (May 9). As of the writing of these lines, the value of Bitcoin (BTC) is about $ 103,000, which represents a monthly increase of 33 %.

Identify the impressive asset huge agitation on Crypto X, with many users who expect that the rise towards the highest new level ever is just a matter of time. some important Factors support the upscale thesis.

An example of this is the exchange of Netflow from BTC, which was mostly negative on Most days in the past week or so. this It indicates a shift from central trading platforms towards self -friction methods and reduce the pressure pressure.

Interest in BTC is also worth mentioning. Over the past few weeks, Google has been looking for the word “bitcoin” in a rise, indicating an increase in interest from investors, especially retail.

like Cryptopotato I mentioned Earlier today (May 9), Bitcoin witnessed approximately 350,000 newly created governors in one day, indicating the FOMO effect. On some occasions in the past, the massive flow of retailers was a prelude to the asphalting of courses. Although the current retail numbers are now higher than they were in the past few weeks, they are still far from what can be described as the Bull Run summit.

Last but not another, we will focus on the next meeting between us and Chinese officials It is scheduled At the end of this week. The two sides are supposed to discuss the cancellation of the ongoing trade war. Recently, US President Donald Trump Glimpse The definitions imposed on China may be cut in the near future.

The tension between the largest economy in the world can affect the financial and encryption markets Because it will reduce uncertainty and may be strengthened Investor confidence.

Granding here, but be careful

BTC The last run bull It seems that you have The feelings of the affected investors. today , common The Fear & Greed Index has risen to the 73 -year -old “Granding” region, another level observed in January this year.

The scale tracks many sectors, such as price fluctuations, social media comments, and investigative studies, to determine the investor’s instant feelings towards BTC.

The bullish feelings often seem encouraging, but one should Consider Warren Buffett’s advice, which once urged people to “fear when others are greedy and only be generous when others are afraid.”

RSI is another indicator worth monitoring. The oscillator measures the speed and size of the latest changes in prices and ranges from 0 to 100. Traders help discover the possible direction repercussions, as readings that exceed 70 indicate that the original can be above it and direct it to a decline. Currently, the ratio Stand At about 75.