After days of consolidation, Bitcoin has made a historic development. Bitcoin, the leading cryptocurrency, completed this week at $ 19,400, the highest weekly close in its history.
Bitcoin hits the highest weekly close in history
Popular trader Mayne drew attention to BTC’s latest move and highlighted that BTC had its highest weekly close ever. The popular trader said on the subject:
THE HIGHEST WEEKLY CLOSING EVER HAS BEEN HELD IN BITCOIN …
There are other analysts who recently emphasized that Bitcoin had its highest weekly close ever and conducted price analysis. Many say this development is a sign that there is no “double high” close to $ 20,000 on a macro basis. Analysts are confident that the leading cryptocurrency will continue its rise as BTC takes a new peak.
Raoul Pal, Bitcoin drop could be near
While Bitcoin provided this technical feat, there are some concerns that a drop will be imminent. Raoul Pal recently shared that he fears a correction is likely, according to Tom Demark Sequential, an important time-based technical indicator. Raoul Pal said on the subject:
BITCOIN IS AGAINST SOME SERIOUS TECHNICAL IMPROVEMENTS AS POTENTIAL… DAILY DEMARK SHOWS ONE CLASS AT 2, 13 AND 9 AND MAY PUT ANOTHER 13 TOMORROW!
Raoul Pal is a noted Wall Street veteran who has spent his career managing hedge funds and working as head of hedge fund sales at Goldman Sachs. Raoul Pal retired from hedge fund business and now explores markets and runs Real Vision. Recently Raoul Pal invested 98% of its assets in Bitcoin and Ethereum. Raoul Pal said on the subject:
OK, MY LAST BOMB IS: I ORDERED TO SELL ALL THE GOLD I HAVE TOMORROW AND BUY 80% – 20% BTC / ETH. I HAVE NO OTHER ASSETS, OTHER THAN SOME DOLLARS AND SOME BONDS. THIS IS MY 98 PERCENT LIQUID PRESENCE… DO YOU SEE, YOU CANNOT REJECTLY CATEGORIZE ME OTHER THAN OPENING A LONG POSITION… GOOD NIGHT…
Analysts: Falling US dollar will help Bitcoin’s price rise!
Many are unsure if Raoul Pal’s technical warning is important. According to analysts, a falling US dollar will help Bitcoin’s price rise. The US dollar index DXY is currently falling below key support levels. This caused an increase in the value of foreign currencies. Many people expect further losses in the value of US dollars, which will reinforce the bullish position of Bitcoin.