The latest Bitcoin news show that the most dominant cryptocurrency Bitcoin is buzzing, most of its energy and intrinsic value.
As the video within this article suggests, there are many bullish indicators for BTC today. It seems that lately, Bitcoin and the stock market have been moving hand in hand. People are now wondering whether this is a V-shaped recovery or just a false promise from the digital asset and stock market.
One popular analyst named PlanB tweeted about this correlation while re-posting a video from Squawk Box which says that the S&P will be above $4,000 in the next 12 months according to the strategist Jeff Saut. To this, PlanB commented that in a scenario like this, BTC would be worth around $190,000.
— PlanB 🔴 (@100trillionUSD) July 6, 2020
In the other cryptocurrency news, we can see that many analysts are doubling down on Bitcoin and saying all kinds of things about a potential meteoric growth of the most dominant asset out there.
Bitcoin is buzzing – and this is also proved by another analyst named Charles Edwards. As he said in his latest tweet, Bitcoin’s energy value just hit an all time high and the intrinsic value of the coin has never been any higher. To this, he also asked his followers “how can you be bearish?” in an attempt to show his bullish attitude now.
Bitcoin's Energy Value just hit an all time high. #Bitcoin's intrinsic value has never been higher.
How can you be bearish? pic.twitter.com/ncU6U3SM8u
— Charles Edwards (@caprioleio) July 6, 2020
In another previous tweet, Edwards spoke about how Bitcoin is buzzing yet is still overvalued for the first time since September 2019 per its Energy Value. Translated in layman’s terms, this means that when EV bottoms and trends up, it is often a BIG up trend as his words show.
The Energy Value has been analyzed by many investors before and is a decent metric for BTC. However, no one can predict the exact trajectory of the cryptocurrency in the near future.
In the other news you can see from the video, there are updates on the Ethereum price and how it could move in the future, updates on the improved fiat gateway of Binance which now supports 15 new national currencies, tons of innovations coming from stablecoins, as well as other stories. For more information, watch the video now!
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