3 reasons why the new bitcoin (BTC) ATH is incoming

Tl; the Dr.

• Bitcoin's recent outflows of shifts and other vital factors support the case that pushes to the highest peak of all time.

• However, the rising RSI indicates that the property may be overcome and vulnerable to a short -term setback.

New peak on the way?

Its Price of the leading cryptocurrency Has recently flourished, climbing over $ 104,000 in the past (May 9) today (May 9). As of this article, Bitcoin (BTC) is worth about $ 103,000, which means an increase of 33%.

The impressive rally of the property was created enormous enthusiasm forward Crypto X, with many users predict that the highest rise of all time is only a matter of time. Some significant Factors support the bullish dissertation.

An example is BTC Exchange Netflow, which has been predominantly negative forward Most days in the last week. This Shows the transition from centralized trading platforms towards self -employment methods and reduced sales pressure.

It is also worth mentioning in the BTC. Over the past few weeks, Google has been looking for “Bitcoin” on the rise, signaling investors, especially for retail sales.

If Cryptopotato reported Today (May 9), the Bitcoin network previously saw almost 350,000 newly created wallets in one day, signaling the FOMO effect. In some cases, the enormous influx of retail investors has been the predecessor of the peaks of the cycle. Although the current retail numbers are now larger than in the last several weeks, they are not far away from what could be described as the top of the bull.

And last, but not less important, we focus on the upcoming meeting between us and Chinese officials designed This weekend. Both sides allegedly discuss the escalation of the ongoing trade war. Recently American President Donald Trump hinted that the tariffs set for China may be reduced in the near future.

The voltage between the two largest economy can positively influence financial and crypto markets As it would reduce uncertainty and may rise Investor confidence.

Greed is here but be careful

BTC a recent bullshit appears to be influenced the feelings of investors. Today popular Fear and greed index rose to greed territory 73, which was last observed in January this year.

Metric monitors are monitored by numerous segments, such as price volatility, social media comments and studies to determine the instantaneous investors' feelings for BTC.

Predominantly bullish sentiment may seem encouraging but one should keep in mind Warren Buffett's advice who ever called for people to be afraid of others greedy and greedy only when others are afraid. ”

The relative strength index (RSI) is another indicator worth monitoring. The oscillator measures the speed and extent of the latest price changes and varies from 0 to 100. It helps traders to notice potential trend vores, as over 70 readings usually signal that assets can be exceeded and redistributed. The relationship at the moment stands Almost 75.