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Bitcoin Price Might Surge as BTC’s Been Hitting Multiple ATHs: Investor Alistair Milne


u.today 2020-07-13 12:54
Reading time: ~2 m

Alistair Milne, a Bitcoin analyst and CIO of the Atlanta Digital Currency Fund, assumes that the price of Bitcoin may surge soon following several major all-time highs reached by Bitcoin fundamentals in various spheres.

"Bitcoin is making new ATHs"

In a recent tweet, Alistair Milne summarized the all-time highs reached by Bitcoin fundamentals over the past month.

He mentioned that crypto investors have not moved their BTC for the past twelve months (more than 61 percent of the circulating BTC supply). Alistair Milne stated that even the lockdown caused by the global pandemic failed to make hodlers move their BTC stashes.

One of the reasons for that was the BTC supply cut that happened on May 11, Milne believes.

The other ATHs mentioned in the tweet were the record number of Bitcoin wallets holding more than 0.1 BTC, an ATH in the BTC hashrate, a record in BTC mining difficulty and a record bid-side orderbook.

Image via Twitter
Image via Twitter

Bitcoin could stay in this range for another 3 years

Analyst Michael van de Poppe reckons that Bitcoin may remain in the current range for another three years. The range in which Bitcoin has been trading recently is between $9,000 and $9,400.

Image via Twitter

"Bitcoin has amazing fundamentals, where’s the rally?"

Prominent Bitcoin critic Peter Schiff recently took to Twitter to take another jab at Bitcoin. He stated that now BTC fundamentals are amazing (referring to the Fed’s printing press working almost nonstop since March in general and the recent PPP loans in particular).

However, he pointed out that instead of rallying with these beautiful fundamental factors at hand, Bitcoin has been staying below $10,000 for three months.

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