BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally

Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally
Su Zhu, the CEO of crypto hedge fund Three Arrows Capital, says that he sees three potential catalysts that could trigger a new Bitcoin (BTC) bull market.
The crypto veteran first notes why he believes Bitcoin is entering an accumulation range and suggests that the downtrend doesn’t have much further to go.

According to Zhu, Bitcoin has had seven red weeks in a row, the most in its entire history, indicating seller exhaustion.
Second, the crypto hedge fund executive points out the huge trading volume during the collapse of TerraUSD (UST), which could signal capitulation and the beginning of a trend change.
The third sign that BTC is in a reaccumulation phase, according to Zhu, is that BTC is showing unusual strength against equities markets during overnight hours. Over the last week, the S&P500 is down 4.5% while BTC is up nearly 1%.
The fourth signal catching Zhu’s attention is the Mayer Multiple, an indicator that gauges the current price of Bitcoin against its 200-day moving average to determine whether BTC overbought or oversold.
Zhu points out that the Mayer Multiple is hovering at historical lows, suggesting that BTC is undervalued.
Source: Glassnode/Su Zhu
Lastly, Zhu notes how Bitcoin has been trading at a premium during the Asia session.
Source: Glassnode/Su Zhu
The crypto billionaire also reveals three possible catalysts that could trigger the next bull market for BTC.
“1) El Salvador conference of 44 central banks
2) OPEC to use in international payments
3) commodity nation sovereign wealth to conduct thesis-driven allocations.” 
Zhu’s first catalyst refers to a meeting held in El Salvador among authorities from 44 different countries discussing Bitcoin.
The second refers to the possibility of the Organization of the Petroleum Exporting Countries (OPEC) accepting crypto payments for oil purchases.
The third trigger refers to the possibility of sovereign wealth funds from commodity-centric countries allocating funds to Bitcoin.
At time of writing, Bitcoin is valued at $29,336 and has been trading almost completely sideways for the past seven days.
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines



 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Tuso949
The post Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script