{"id":139488,"date":"2020-12-22T20:45:00","date_gmt":"2020-12-22T17:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tradingview-gm-explains-rationale-for-continued-bitcoin-bullishness\/"},"modified":"2020-12-22T20:45:00","modified_gmt":"2020-12-22T17:45:00","slug":"tradingview-gm-explains-rationale-for-continued-bitcoin-bullishness","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tradingview-gm-explains-rationale-for-continued-bitcoin-bullishness\/","title":{"rendered":"# TradingView GM explains rationale for continued Bitcoin bullishness"},"content":{"rendered":"

“# TradingView GM explains rationale for continued Bitcoin bullishness <\/strong>”
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Following record price highs of more than $24,000\u00a0per coin, Bitcoin (BTC) has consolidated, retracing slightly in price. The asset might have stalled for now, but the future remains bullish according to TradingView general<\/a> manager, Pierce Crosby.\u00a0<\/p>\n

“Right now, I see very near-term headwinds for Bitcoin,\u201d Crosby said, adding:<\/p>\n

\u201cThe performance recently may seem parabolic, but there are no near-term negative events we expect. This makes for a bullish base case on price.”<\/p><\/blockquote>\n

Bitcoin cracked its 2017 all-time price high of $19,892 on Dec. 1, 2020 before subsequently retracing more than $1,000. After stabilizing, BTC went on anothe run, slamming through $20,000 and entering price discovery with no historical levels remaining above. <\/p>\n

Since its latest surge past $24,000, crypto\u2019s largest asset has traded sideways over the last several days after pulling back slightly. In the past, Bitcoin\u2019s cooling periods have sometimes resulted in money flowing into altcoins, creating a period of positive pricing for digital assets other than BTC. Crosby, however, remains unsure about the alt scene. <\/p>\n

“Altcoins I have less confidence in, especially as the rotation into \u2018majors\u2019 happ<\/a>ens,\u201d he said. \u201cMajors\u201d refers to the share of cryptocurrencies holding large market caps. \u201cWe could expect a rotation back to alts in the spring, but unfortunately for \u2018alt lovers,\u2019 Bitcoin is on a stronger footing relatively speaking.”<\/p>\n

MassMutual and MicroStrategy are two examples of mainstream financial entities jumping on the Bitcoin train, investing large sums of capital. <\/p>\n