Bitcoin Reachs 200 day moving average, bull case for BTC strengthened
Jan 29, 2020
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January 29, 2020
One of the biggest asset class surprises last year was the 92% gain in Bitcoin (BTC). Twelve months ago, few besides our shop would have credited such an outcome. So far in 2020 the cryptocurrency is continuing to roar ahead.
Though it’s early in the year, BTC is up 26% YTD, already the best showing of any major asset class, and building on that big 2019 move. The case for owning Bitcoin has strengthened even since the start of the year, as two additional tailwinds recently emerged (see below), bringing to five the positive convergences I envision for BTC this year.
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