Bitcoin Could See Massive Rally Soon – Here’s When To Expect Bullish Moves
Bitcoin could be seeing a massive rally sooner rather than later. Check out the latest reports about this below. Bitcoin to see a rally soon According to an investor who accurately predicted the 2022 crypto low, the mark...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin could be seeing a massive rally sooner rather than later. Check out the latest reports about this below.
Bitcoin to see a rally soonAccording to an investor who accurately predicted the 2022 crypto low, the markets may be preparing to follow the bullish trend of the stock market.
Chris Burniske, a partner at venture capital firm Placeholder, shares with his 261,600 Twitter followers that cryptocurrency tends to rise when the Nasdaq 100 index (NDX) takes a break.
He references data from Glassnode founders Jan Happel and Yann Allemann, who have observed that Bitcoin (BTC) has experienced significant rallies numerous times after the NDX has cooled off since 2019.
Burniske said the following:
“An interesting observation that crypto often runs after NDX stalls – rotation into higher risk.”
In May 2019, Happel and Allemann observed that Bitcoin surpassed the NDX when the index showed signs of bullish exhaustion.
They noted a similar trend in 2020 when Bitcoin outpaced the NDX after the index stalled.
The co-founders of Glassnode predict that Bitcoin is likely to outperform the NDX once more as the index appears to be approaching a local peak.
“Where do we stand now?
NDX is at April 2022 levels (445 days to get here) and BTC decoupled… History says we’re close to Bitcoin exploding and outperforming.
Cool off in equities –> capital rotates into riskier plays –> BTC off to the races.”
Bitcoin in the newsIn a recent interview with YouTuber Tom Bilyeu, the CEO of Real Vision suggested that Satoshi, the anonymous creator of Bitcoin, could potentially be the US and UK governments.
Pal believes that BTC’s pseudonymous founder may have been a collective of government employees from the US National Security Agency (NSA) and the UK’s Government Communications Headquarters (GCHQ), who were assigned to experiment with possible solutions to anticipate future threats to the West’s international monetary supremacy.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Ethereum (ETH) Price Prediction: ETH Tightens Near $1,880 as Analysts Debate Breakout Towards $3,000 or Another Bear-Market Leg
Ethereum price is consolidating around $1,880 as ETH moves deeper into a tightening technical structure, with traders watching whe...
Crypto crash liquidations face massive data gap as public records contradict $18B Solana claim
Solana Research Institute, a Solana-aligned research group, used an Aug. 14 post to revive a July open letter by Angus Scott to th...
Bitcoin (BTC) Price Prediction: Bitcoin’s Coiled Market Faces Major Breakout as $62K Support Is Tested
The Bitcoin price has struggled to build lasting upside momentum even as recent US inflation data has eased some pressure on risk...
Strategy tells MSCI ‘Bitcoin doesn’t need you’ as $2.8 billion index risk hangs over MSTR
Strategy faces a renewed threat of removal from major MSCI equity indexes under a broader screening proposal that could trigger an...
Wall Street finally turned staking into a dividend, now Ethereum and Solana want to shrink it
Grayscale's July 17 SEC filings said its Ethereum and Solana staking ETFs would convert staking rewards to cash and distribute the...
Ethereum’s post-quantum roadmap puts banks on a 2027 deadline nobody is talking about
Ethereum's post-quantum migration could create a problem for regulated banks years before any quantum computer poses a real threat...