During the 2017 run up Bitcoin didn't even have a futures market in place," he emphasized.
"In the 18 months since the ATH, many more institutions have started following and investing in BTC," said Hendricks. With new leverage products and a more sophisticated buyer base, it's possible for larger leveraged orders to impact the market," he noted. One form of information that can help market observers understand bitcoin's robust gains is sentiment data., helped shed some light on this particular area.
The chart below, provided by his company, plots the sentiment of bitcoin, along with the number of tweets surrounding the cryptocurrency. The blue line represents tweet volume, while the purple line corresponds with long-term sentiment, which is calculated by conversations on Twitter over the last 50 days to a 200-day moving average.After bottoming in December 2018, the long-term sentiment on Bitcoin has continued to grow in each over the last 7 months," noted Frank. Continued increases in positive long-term sentiment means that conversations around cryptocurrency are increasingly becoming more positive," he emphasized.
And will double in the next weeks! 📈
Here's the simplest explanation of bitcoin you'll ever read
There is no stopping with this thing! Dominates the Crypto - 64% as of morning EST.
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