The Bitcoin (BTC) price closed yesterday, February 13, 2020, at $ 10,220. It started today, February 14, 2020, with a drop down to the level of $ 10,100, before starting to rise again. The BTC price is 10,243 USD at the time of writing. Are new cryptophiles going to declare their flame to Bitcoin on this Valentine's Day and bring its price up to the level of 11,000 USD? Follow the Lamborghini!
An explosion of Bitcoin futures marriage contracts
Valentinesque tweet The Block reports $ 5 billion in accumulated open interest on BTC futures contracts, February 13, 2020.
During the past 60 days, the price of Bitcoin went from $ 6,400 to $ 10,500. This boom is partly due to the emergence and success of Bitcoin futures and, with the arrival of new institutional players.
A Bitcoin rally in the literal sense?
ChartStarHQ published a rather surprising tweet today, February 14, 2020: Analysis of billions of comments on Reddit would have revealed that the frequency of mentions of the Lamborghini, would be a technical indicator of the price of Bitcoin.
The number of mentions of the Lamborghini would have exploded during the bull run of the BTC in 2019 and, that this pattern was repeated during the parabolic rise in the price of Bitcoin of this year.
Should this “funny” correlation be taken seriously? Many technical indicators, like the golden cross or the ichimoku clouds, in any case predict an upcoming rally of the BTC. The latter could therefore start up a gear soon.
Love is said to give wings. Will the price of Bitcoin soar at the end of this Valentine's Day? The BTC seems to have found solid support above 10,000 USD. Ready for the 11,000 USD?
Litecoin, welcome in the Silver Age