Bitcoin started its bullish journey from a low position at $9,800 in September and is continued to move up. In today’s rally, it has even claimed the yearly highest position at around $13,300.
However, after entering into a zone between $13,000 and $13,500, the top digital asset rejected and retraced below $13k. After some time, buyers again pulled it up as it is currently exchanging hands at $13,023.
Real Vision’s Survey Report
Traders and experts expect Bitcoin to surge in price value this month as recent survey support this supposition. According to the latest “Real Vision Exchange Survey report,” the majority of investors predict high return for Bitcoin and expects a 5% growth in the coming month. Bitcoin seems very bullish in the eyes of investors due to the recent bull-run. Even gold will be left behind Bitcoin in “upside potential.”
Another survey conducted by Real Vision unveils that 80% of website users are bullish on the world’s leading digital asset. Fundamental factors are also presenting a good picture for the month ahead.
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Abra CEO Bill Barhydt unveiled that he was increasing his holdings of Bitcoin and it comprised 50% of his entire portfolio. According to Barhydt, Bitcoin is the “best opportunity in the world right now.” He further goes on and claims three things, sentiment, fundamentals, and technical, responsible for Bitcoin status as the world’s best investment opportunity.
Crypto experts believe the coming stimulus package of the Fed will further push the price value of Bitcoin upward. It is due to the devaluation of the US dollar as a result of the Federal Reserve’s policies amid Coronavirus.
Funding Rate is Average in Futures Markets
Besides high sentiments among BTC markets, the futures’ markets are not yet active as the funding rate over futures platforms is average. As futures markets have not yet become overheated, there are chances of further price gain.
The upcoming weekly candle will have great importance for BTC markets. “This weekly close is more important than you think. Bitcoin didn’t close above 11,700 since the last bull mania valhalla run,” said crypto trader Edward Cleps.