Since December 4, Bitcoin has mostly been trading between $18,000 and $19,000. Tyler Winklevoss, Co-Founder and CEO of crypto exchange Gemini, says that Bitcoin seems “like a tiger getting ready to pounce.”
Here is the two-week BTC-USD price chart:
As for the past 24-hour period, Bitcoin has been trading in the range $18,176 to $18,639, and currently (as of 10:38 UTC on December 10), BTC is trading around $18,228.
On Tuesday (December 8), the Gemini CEO called Bitcoin’s recent price action “awfully boring”, but he seem confident that the Bitcoin price is heading north in the near future:
The CEO of on-chain analytics firm CryptoQuant says that although it is impossible to know what will happen in the short term, he can’t “find a significant short-term bearish signal for now.”
As for the long term outlook, he says that based on the metric “All Exchanges Inflow Mean(7d MA)”, which s tracked by the CryptoQuant platform, he is very bullish on Bitcoin, as explained below.
Featured Image by “SnapLaunch” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
