Watching Bitcoin - King of Crypto
Bitcoin has been making a lot of big moves this year! Keep in mind that BTC started the year (January 1st, 2020) around $7,050 USD! It's nearly doubled and the year isn't over yet! 😁
This year has been full of news and happenings. The halving comes to mind, as a major happening that occurred in May of this year. The price at halving was around $8,600 USD. Look where we are now!
Adoption is helping too. The PayPal news is a major step toward mass adoption. Some 300 million PayPal users or so are suddenly going to be exposed to Bitcoin. This will further solidify BTC as a trusted asset and more people will buy in.
Hope you are hodling strong!
Looking at the charts and thinking short term, we're watching what appears to be an ascending triangle form which could signal another move up is on the way... however it's still early to tell for sure.
Volume seems to be declining again back to the trend we had from September through October.
Moving averages are in a good place and moving steadily up still. We will keep an eye on them for any hints at where things are going as usual!
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.