Parabolic Rally For Bitcoin Ahead, Latest Predictions Say | CryptoGazette
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It’s been revealed that new predictions are claiming that Bitcoin can get extremely bullish after the king coin was able to hit $44k recently.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $44,089.
BTC is expecting more bullish moves
A closely followed crypto strategist predicts there will be a parabolic rally for Bitcoin amid BTC’s strong bounce over the last few days.
In a new strategy session, pseudonymous trader Credible explained that Bitcoin might be in the midst of a high timeframe reversal.
He also explained that if a major reversal is actually underway, Bitcoin will go through strong rallies with little to no pullback.
“It’s not easy to tell where we started a new impulse until it’s already very, very apparent. And what I mean by that is we get a small impulse, we get a small consolidation. We get another small impulse ($47,000). We get some consolidation.”
He continued and explained the following:
“And at this point, people are thinking, ‘Okay, we’re at supply ($47,000). We’re going to head down from here.’ But realistically, what sometimes happens and what will typically happen if we’re already working on the next impulse is we’ll consolidate.”
He concluded by saying that after all this, we will be seeing more impulsive moves that will be followed by shallow consolidations and then even more aggressive moves.
MicroStrategy conference
Institutions are making up 50% of Coinbase’s business and this means that they are up by 10% from three years ago.
This is what the head of Coinbase Institutional said Wednesday during MicroStrategy’s Bitcoin for Corporations conference.
Brett Tejpaul told MicroStrategy CEO Michael Saylor that the increase in business has also led to an increase in the institutional group’s size, from about a dozen people to 150.
You should check out our previous article in order to learn more details about this.
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