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The Bitcoin price could establish a new all-time high above the $20,000 level in 2020 as it hits crossroads with a bias-defining indicator.
The benchmark cryptocurrency’s latest move uphill prompted it to retest its 20-weekly moving average on Wednesday.
The technical indicator is conclusively accurate when it comes to defining the BTC price long-term trends.
When Bitcoin (BTC) breaks above the MA, it tends to stage parabolic bull runs. Nevertheless, the best-case scenario shows Bitcoin attempting a 250 percent jump in the long-term.
That would bring its exchange rate close to $28,000.
In other Crypto news today, one of the biggest issues many people have with government is its complete lack of transparency and accountability, which in turn creates national populations with a high level of distrust in the ruling classes. With their immutable transaction ledgers, financial innovations, like Bitcoin and other crypto assets, could help restore some of this lost trust.
Today, presidential hopeful and antivirus pioneer John McAfee laid down a challenge to members of US Congress.
The controversial crypto asset proponent asked if any single member of the United States government would be willing to permanently record all their financial dealings on the blockchain.
In the below tweet, addressed as a challenge to Congress, McAfee asks if any member of the US government would be willing to have every financial transaction they ever make permanently recorded via blockchain technology.
This would allow the US public to see exactly how the apparent representatives of the people were spending their own and public money.
Such a system would enable voters to see if the government was truly acting in the people’s, or in fact their own, interests.
“A CHALLENGE TO MEMBERS OF GONGRESS. Are you willing to be tokenized on the Blockchain – meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement? If not, why?”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.