Name: Analyst: this Bitcoin breakout is the "real deal" and backed by fundamental activity
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Analyst: this Bitcoin breakout is the "real deal" and backed by fundamental activity

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The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $22,260.94 and BTC market dominance is %. The price of Ethereum is $1,707.30 and ETH market dominance is %. The best performing cryptoasset sector is , which gained 3%. Welcome, The Bitcoin price surged past $10,000, reaching as high as $10,140 across major exchanges. The Bitcoin price surged past $10,000, reaching as high as $10,140 across major exchanges. Since the $8,000-range, many traders expressed their skepticism towards the trend of Bitcoin. The $9,500 level was expected to act as a .In 2018, when the $9,500 to $10,000 range was tested, the Bitcoin price immediately went onto entering a deep correction. The crypto market, with the rapid decline of alternative crypto assets, struggled to recover for well over a year after that.The difference between the current Bitcoin price trend and 2018 is the upcoming halving. The in May has been the sole variable for the crypto market in solidifying the recent upsurge as a proper and organic upside movement.According to Adaptive Fund partner , the ongoing crypto market rally is the real deal.” Woo :“This breakout is the real deal. Fundamental investment activity is backing this $10k breakout. Lower chart tracks investor velocity (the buy and hold people, not short term traders). This metric corrects for degradation of signal from coins moving off the blockchain onto layer 2 (exchanges etc), that was something NVT was prone to. It’s proprietary to AdaptiveFund.”At the start of the rally, when the was hovering at $8,800 and was at sub-$200, the crypto market was noticeably being forced upwards with spoof orders.Spoof orders in trading are that encourage more buyers to enter the market in the short-term. After the price goes up, the spoof order disappears and reappears at a higher level.Eventually, what began as a short-term upsurge triggered by spoof orders turned into an organic rally. Retail investors started to get involved with a decent rate of fiat inflow into exchanges. In spite of the factors that led the crypto market to rally throughout the past three weeks, ultimately, nearly all major resistance levels have been cleanly surpassed.Ethereum, for instance, which has front-run Bitcoin in 2020 with a 50 percent gain, has climbed past $220 with barely any major pullback. The $220 level has been a heavy level of resistance for Ethereum since October 2018. In previous crypto runs, the Bitcoin price solely tested higher levels like $10,000 with barely any reaction from major altcoins.Popular crypto analyst .“Regardless if BTC experiences a pullback after hitting $10k A weekly close above $9556 would be absolutely bullish.”Throughout the recent rally, Bitcoin has been rising in tandem with altcoins, indicating that it has a lower probability of being a fake-out. A fake-out rally refers to a relief upsurge after months of downtrend that fizzles out over time and leads to the resumption of a bear market.Posted In: , Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis. On-chain analysis Price snapshots More context You might also enjoy... Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. Bitcoin is a consensus network that enables a new payment system and completely digital money. Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Willy Woo is a popular cryptocurrency analyst who describes himself as a nomad, entrepreneur, and investor following the bitcoin space and mindfulness. Josh Rager is a respected cryptocurrency analyst, trader, and the Co-Founder of BlockRoots, a platform to learn about blockchain and cryptocurrency. Please add "" to your email whitelist.Stay connected via

The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $22,260.94 and BTC market dominance is %. The price of Ethereum is $1,707.30 and ETH market dominance is %. The best performing cryptoasset sector is , which gained 3%. Welcome, The Bitcoin price surged past $10,000, reaching as high as $10,140 across major exchanges. The Bitcoin price surged past $10,000, reaching as high as $10,140 across major exchanges. Since the $8,000-range, many traders expressed their skepticism towards the trend of Bitcoin. The $9,500 level was expected to act as a .In 2018, when...

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Analyst, focusing on finance, cryptocurrency. Currently contributing to @forbescrypto  @newsbtc  @cryptoslate  @cointelegraph

Analyst: this Bitcoin breakout is the "real deal" and backed by fundamental activity

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