3 Key Fundamental Factors Suggest Long Lasting Bitcoin Upsurge is Inevitable

Tony "The Bull" Severino

5 years ago

2 mins read

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Bitcoin‘s halving is finally here, and the bullish block reduction has the entire cryptocurrency space clamoring and speculating on if it will take the asset to a new all-time high.

Three unique key fundamental factors have all reached an all-time high just ahead of the halving, suggesting that not only is a long-lasting Bitcoin upsurge inevitable, but a new all-time high price record is also likely.

Bitcoin Halving Could Incite Next Bull Market, As Crypto Hopefuls Expect

It’s been well over two full years now since Bitcoin price set a record in late December 2017 for reaching a peak of $20,000 per BTC.

But ever since the crypto hype bubble popped, the asset’s prices tumbled and the market was left waiting for the halving for the cycle to restart once again.

The halving is now just one week away, and as expected all signs are pointing to a sustained uptrend in the days, weeks, and months ahead for the cryptocurrency market.

According to three key fundamental factors, not only is a longer-lasting rally inevitable, but it could take the first-ever cryptocurrency to a new all-time high.

Three Fundamental Factors Point to New BTC All-Time High

Bitcoin is a unique asset unlike anything else. And while investors in the stock market have company revenue reports, executive teams, and company shares to take into consideration when performing fundamental analysis, Bitcoin has none of these.

Instead, analysts have looked toward metrics such as the number of BTC addresses active, the asset’s hash-rate or the amount of energy powering the network, and more to gauge fundamental value.

According to three key metrics reaching an all-time high, all signals point to a sustained bull trend happening soon.

Bitcoin hash-rate has now achieved another all-time high record, and BTC addresses with a balance of 1 BTC or more have also set a new record.

$BTC hash-rate hitting an ATH$BTC addresses with a balance of ≥ 1 BTC hitting an ATH $BTC 'halving' searches hitting an ATH

Only a matter of time before $BTC price hits an ATH#Bitcoin pic.twitter.com/JFZLb35N6N

— RookieXBT 🧲 (@RookieXBT) May 4, 2020

Coindicing with all of this, is a surge in Google Trends searches for Bitcoin halving, showing that people are scrambling to learn more about the bullish event.

With all of these key metrics reaching an all-time high peak, it is only a matter of time until Bitcoin price follows and sets a new all-time high record above $20,000.

Once this happens, the true bull run will begin, as investors who thought Bitcoin was nothing more than a bubble in late 2017, will be forced to FOMO back into the asset at much higher prices.

Bitcoin‘s halving occurs on May 12, 2020. On that day, the block reward will be reduced from 12.5 BTC to 6.25 BTC. Only 21 million BTC will ever exist.

Featured image from Pixabay.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.