Record fundamentals and a $12K pump: 5 Bitcoin price tips this week

Bitcoin starts a new week in familiar territory as markets move into the United States' 2020 elections - where could it go next?

Cointelegraph takes a look at five factors that could influence BTC price action in the week ahead.U.S. macro: Elections vs. stimulus.

The U.S. is the firm focal point when it comes to macro markets this week.

For others it is Bitcoin that will profit more impressively.

Bitcoin stayed practically rangebound over the weekend, with only a brief spike above $11,500 contrasting the flat activity.

As Cointelegraph often reports, the popular theory that price follows hash rate remains firmly in force as miners are more bullish than ever on Bitcoin as a long-term investment prospect.

For Cointelegraph Markets analyst Michaël van de Poppe, a pivotal price transformation for Bitcoin is becoming more and more plausible.

"It's very likely that we're going to make a rally towards the area of $16,000 to $17,000 as that's the obvious level and the final hurdle for Bitcoin to start breaking all-time highs," he summarized.

"$11,400 is still a very cheap price per Bitcoin," he added in a tweet.

In its latest market reading, the Crypto Fear & Greed Index is back in "Greed" territory, having edged up from "Neutral" over the past week.