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Bitcoin came back from the dead.
The world's largest market capitalization cryptocurrency has surpassed the $ 5,000 mark for the first time since November and has so far resisted rising, prompting some analysts to declare the end of the so-called "crypto winter" ".
<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The new analysis has encouraged some analysts to create new calls , including that of a technical operator who & nbsp;correctly predicts the collapse of bitcoin in 2018, founder of Factor Research and Trading Peter Brandt. After bitcoin (BTC-USDHe now wants to earn $ 50,000 in the next two years. "data-reactid =" 17 "> This new campaign has encouraged some analysts to make new calls, including that of a technical operator who had correctly predicted the collapse of Bitcoin Peter Brandt, founder of Factor Research and Trading in 2018. After the last Bitcoin Rally (BTC-USD), it is now claiming an increase of USD 50,000 in the next two years.
<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" I believe the graphics reflect the offer and the underlying underlying demand and that's why we need to look at the situation, "he told & nbsp;Yahoo Finance YFi PM. "What happened from December 2017 to 2018 is really analogous to what happened in the bear market from 2013 to 2015, where we observed 10 sequential back-and-forth movements in the bear market and where we have almost identical formed the same kind of "data-reactid =" 18 ">" I believe the charts reflect the fundamentals of the underlying supply and demand and it's as well as we need to look at it, "he told Yahoo Finance YFi PM. What has happened from December 2017 to the year 2018 is really analogous to what happened in the bear market from 2013 to 2015, where we witnessed 10 sequential movements of back and forth in the bear market and where we have created about the same type of model. "
Brandt, a 71-year-old trading veteran, spoke of the parabolic advance of Bitcoin after its 2015 low, as a reason to suspect the recovery.
"I think the analogs are doing remarkably well and, based on these studies, the cryptos will now return to a parabolic bull market," he said. "The only question I have is, do we get some of them together and then, at the end of the summer, check if the lows of 2018 are low or not? There is a chance that this will happen.
Reviewing the relative risk / return of bitcoin in the near term, Fundstrat Global Advisors released a new customer rating this week, highlighting the underlying fundamentals, apart from the positive technical signals Brandt has underscored.
"We see less reason to question the recent recovery [in] Bitcoin prices, the best quarter since 2017, have been written by Fundstrat analysts. "While the main technical price barrier is the closing of the market by the BTC above 200 D / d (currently about 4,600 USD and a drop of 15 USD per day), 2019 is perceived as a risk / positive benefit. "
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Zack Guzman is a senior writer and on-air reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz."data-reactid =" 25 ">Zack Guzman is a senior writer and on-air reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz.
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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This crypto-millionaire wants you to take advantage of your unused Internet bandwidth"data-reactid =" 27 ">This crypto-millionaire wants you to take advantage of your unused Internet bandwidth
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