In recent weeks, bitcoin’s range has tightened with many analysts noting a potentially violent price breakout on the horizon. When this is increasing, it is historically very bullish.” This longer term indicator may suggest that a breakout leans towards the bulls. One quantitative risk indicator value has been dropping quickly coupled with compressing price volatility. Tepid bitcoin futures growth calls into question the institutional adoption narrative in some respects, and may imply less buying demand than originally suspected. https://blockchair.com/bitcoin/charts/coindays-destroyed?interval=fullDespite the differing analyses, the only thing that is certain, is that a strong breakout for bitcoin looms.

Source: Forbes July 20, 2020 18:56 UTC