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Coinbase To Launch New GBP Trading Pairs Tomorrow

Stefan by Stefan
29/01/2020
in Bitcoin News
Reading Time: 2 mins read
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A lot of Bitcoin analysts are featured in the latest cryptocurrencies news now for following the recent price action and the latest Bitcoin surge which took the cryptocurrency to new heights of $9,300. As findings from one statistic resource named Skew Markets show, if BTC breaks through $9,500, this quarter (Q1 2020) will be the best one in the past six years.

Moreover, Q1 tends to be an underwhelming period for Bitcoiners from what we saw so far. In 2014, there were 39% losses, while 2015 and 2016 saw BTC/USD drop by 24% and 3%, respectively.

Only 2017 and 2019 managed to produce some positive moves. However, at around 11%, neither performance comes close to this year’s. In 2011 and 2013, we saw that the Q1 returns were strongest at 165% and 570% accordingly, as the BitInfoCharts price index shows.

All of these impressive stats show that Bitcoin has a long-term potential and many analysts expect the Bitcoin price news this year to again go viral in the mainstream world, proving that the cryptocurrency is not dead and can again visit its all-time highs.

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The aggregate open interest across futures products is also impressive – and if BTC breaks through new levels, it is expected to be much higher. What Skew Markets recorded so far is a total of around $3.7 billion as of January 28 which is the volume across futures products.

“Volume tells all,” says the trader Scott Melker as he expects more progress for the dominant coin versus the volume in 2020.

In contrast to this, a lot of regular consumers appear only a little interested in Bitcoin and its recent price rise over $9,000. According to what we see in the latest Google search results, the search requests for “Bitcoin” remain flat now.

However, we can see many good news on the horizon. The higher price is also subject to a lot of speculation from commentators. An analysis shared on Tuesday showed the trader Tone Vays demanding the $9,000 level hold for at least several days before he considered a bull market in effect.

Another indicator called the Bitcoin Fear & Greed Index which charts Bitcoin and its likely price trajectory based on investor sentiment, which is flashing bearish. Currently, with a score of 57, this metric is slanted towards suggesting that the market is “due for a correction.”

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: bitcoin 2020bitcoin all time highsbitcoin high pricebitcoin q1 2020bitcoin scott melkerbitcoin speculationbitcoin tradersbitcoin tuesdaybitcoin year analysisbitinfochartsbtc chartfeatured
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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