Although has rallied about 33% year-to-date, its dominance has dipped to 64.40%, its lowest level since July 2019. This shows that altcoins have continued to outperform Bitcoin. However, with the Bitcoin halving fast approaching, the digital asset’s volatility is likely to pick up.
Tom Lee, co-founder at Fundstrat Global Advisors, has again turned ultra bullish on Bitcoin and expects a rally to about 200% in the next six months. According to him, historically, whenever Bitcoin has broken above its 200-day moving average, it has recorded an average six month gain of 197%. Lee expects halving to act as a catalyst for the expected up move.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Source: Cryptocurrency - investing.com
