Three Main Reasons Why Bitcoin Price is Setting Up For a New Bull Rally | BTC News Today

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BTC Price Rally

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There is nothing like a good BTC halving to send the Bitcoin price to the moon again.

It has happened twice before and there is nothing indicating that history will not rhyme again.

With just 146 days to go now the FOMO should start to build soon, more so as we enter 2020.

As the block reward and inflation rate gets halved, the stock to flow doubles which is very important to investors in terms of relative scarcity and demand.

There is no end of charts and Bitcoin predictions out there for BTC price next year and most signal a larger run after the halving.

The new bull market could be around the corner, all Bitcoin (BTC) has to do is stay above $6,500 for the rest of this year to confirm it.

The week is drawing to a close with the Bitcoin price back above $7,000 which keeps it consolidating as the bulls and bears battle it out.

Long term trend lines are holding as is strong support but those are not the only reasons why the next bull run could be imminent.

In other BTC news today, Bitcoin is more likely to hit $10,000 in 2020, than dip to $5,000 because we’re in a consolidating bull market, shows the 2020 Bitcoin prediction of Mike McGlone, senior commodity strategist at Bloomberg Intelligence.

He tweeted on Crypto Twitter:

“Bitcoin in 2020: $10,000 Appears to Be More Likely Than $5,000 – Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one.”

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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.

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