After holding under $10,000 for a week, Bitcoin saw an explosive breakout on Jun.
According to a prominent industry chief executive, the rally "Ain't real" yet.
Ongoing Bitcoin rally "Ain't real" yet.
2 that while the futures market is starting to show bulls are in control, "This rally ain't real until we take out $15k.".
This rally ain't real until we take out $15k. pic.
It isn't clear why Hayes believes $15,000 is so important, though a price close to that level, $14,000, marked the highs of 2019's Bitcoin rally.
10,500 marked the highs of two key rallies over the past year: the "Xi pump" late in 2019 and the February rally.
Bitcoin failing to move above this high shows the macro trend is not yet bullish, an analyst from Fundstrat Global Advisors has said.
"Everyone knows the shift is upon us, that is why central bankers and politicians will throw all of their tools at this problem. And I will reiterate, that is inflationary because more fiat money will chase a flat to declining supply of real goods and labour. There are only two things to own during the transition to whatever the new system is and that is gold and bitcoin."
"Although massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison," the Tesla CEO said in a recent tweet.
BitMEX CEO Arthur Hayes: The Bitcoin rally isn't "real" until $15,000 breaks
Udgivet den Jun 2, 2020
by Cryptoslate | Udgivet den Coinage
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