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04.08.2020
10:49

Bitcoin: On-chain data backs incoming bull run expectations

Bitcoin‘s price broke out of its stagnant market trend and surpassed its immediate resistance at $10k a few days back. Since then, BTC hasn’t looked back, with the value of the cryptocurrency surging to breach its resistance at $11,400 while reporting a 2020 peak of $11,600. At press time, the world’s largest cryptocurrency had managed to hold on to this level and was being traded at $11,620. With a performance like this, many analysts online have started speculating on whether this is the beginning of another bull run in the crypto-market.Source: BTC/USD on TradingViewPopular analyst Willy Woo is one of them, with Woo having predicted the arrival of a new bull run almost a month ago. Fast forward to July, Bitcoin’s price has broken out of the $9k range and at the t...