The price of Bitcoin was hovering around $10,000 in February before the coronavirus pandemic led to the U.S. stock market to correct sharply. At that time, analysts expected BTC to pull back as the price had also rejected at $10,500 which is a pivotal resistance level.
Surprisingly, Bitcoin price dropped rapidly as it fell below $6,000, ultimately dropping to a yearly low at $3,600 on BitMEX. This caused mayhem in the cryptocurrency market as more than $1 billion worth of leveraged positions were liquidated.
According to Woo, Bitcoin was positioned for a bull market before the coronavirus pandemic affected nearly all risk-on markets. Woo’s new model, which accurately marked the start of four previous bull runs, indicates Bitcoin is preparing for another uptrend in the near-term.
How do you think?
there is something Good happens since yesterday mate.
from almost drowning to fall in $8,000 level yet it Bounced back and starts to climb to almost $9,500 last night.
This means maybe your post is correct the July is the start of new beginning .
There are so much waiting that coming around yet nothing goes favoring us so Lets Hope that this time it's for real and Bull coming sooner.
And stabilize to that level and which is good for the current happening but I don't see any point that we can go huge for this month since we don't know on how this thing will happen but lets keep the faith harder since even if there's a negative things happening in the world still the price of bitcoins still on positive side. Really looking forward to see a bull run and hopefully it will happen soon.