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LightCrypto, a Renowned Analyst, is Buying Bitcoin at $8.5k

Regardless of whether Bitcoin is showing weakness recently, a renowned analyst known as LightCrypto is buying Bitcoin near the $8.5k to $8.6k level. He noted his stance on Bitcoin, remarking that the cryptocurrency sustained well as gold declined below $1600 after moving close to $1700.

As per LightCrypto, Gold’s fall is another sign of a vibrant and capitulatory macro environment. On the other hand, Bitcoin is compelling flatlining shows that sellers still support the cryptocurrency. 

LightCrypto is Optimistic About Bitcoin’s Future

LightCrypto’s outlook on Bitcoin seems reasonably optimistic, even due to a growing pace of fundamental bullish factors. He pointed out the elements that make the cryptocurrency inherently bullish. These factors include the imminent nature of the block reward halving in May 2020, the possible interest rate cuts from central banks worldwide, and the fiscal stimuli promised by the governments globally.

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Other analysts, such as Josh Olszewicz, are also optimistic about the cryptocurrency markets. Olszewicz noted the availability of a correlation between surges in the stock market’s volatility and Bitcoin’s bottoms.

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