Bitcoin lead the rally again

It seems that investors and the media have radically lowered their attention to crypto markets. Bitcoin has risen for the fourth consecutive day, after jumping from the 200SMA and probing the breaking the downhill channel, boosting positive moods. At the same time, BTC/USD went back over the main trend line with a strong technical order for growth - Gap in the upward direction, which managed to skip the basic diagonal and a key horizontal. The biggest cryptocurrency gain over 90% growth from the bottom, which registers at the beginning of February and is currently the leader in the resumed rally. In terms of Indicators, Sequential, counts "seven above", indicating that the upward impulse is in effect. Demarker(14) is leaving the over-sales area and pointing up - positive for the price.

After the massive sell offs of crypto market in January, which wiped out more than half a trillion dollars in the value of the crypto-market, many investors found the bottom in February. This also coincided with the statements of many analysts who seemed to offer silent acceptance of the fact that crypto-points would not be regulated.

According to S&P Global Ratings, while regulators are failing to deal with the regulation of cryptocurrencies, their rating will continue to rise and consumers will be struggling for ever-wider adoption. The agency is of the opinion that the future success of the cripples will largely depend on the coordinated approach of the global regulatory authorities and the political elite.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

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