The crypto market looks good today with Bitcoin and the altcoins trading in the green following a short rally that kicked off the day before.
At the moment of writing this article, Bitcoin is priced at $7,089.88.
Yesterday, it’s been revealed that at least two events in the crypto space might have triggered a surge in the price of digital assets.
For starters, the Financial Stability Board (FSB) addressed in a consultative document the challenges that are spurred by the emergence of stablecoins in the global financial market. The financial dog basically recommends the ban of stablecoins.
And secondly, Ethereum testnet 2.0 called Topaz launched.
Bitcoin could be getting ready for a new bull run
It’s been revealed that one of the most profitable crypto whales said that he’s waiting for a single Bitcoin signal that can prove the fact that the crypto is ready to begin a new long-term bull run, says the Daily Hodl.
Joe007 became really popular after he earned $20 million in realized profits on Bitfinex between February and March.
He mentioned the fact that the high level of volatility in the traditional markets will probably continue, and this scenario could posh BTC lower, but only in the short term.
Both traditional and crypto markets are governed by uncertainty these days.
He also continued to warn traders against placing too much faith in the stock-to flow ratio.
May’s halving could trigger a bull run
Some analysts have been saying that this indicator suggests that Bitcoin is about to begin the massive bull run that we’re all waiting for. This is supposed to take place in May.
Joe says traders need to do their own research.
Once it’s the dominant narrative you know it’s time to buy for real.
— ᴹᵁᴴJoe⁰⁰⁷ 🐳 (@J0E007) April 12, 2020
Selling S2F as having absolute predictive power is not only “waste of time”, it’s dangerous for tens (hundreds?) of thousands of retail crypto trader who don’t understand statistics and substitute DYOR by varied guru dictums. Of course, you can always say “Fuck these idiots!” https://t.co/5p2r5b84ay
— ᴹᵁᴴJoe⁰⁰⁷ 🐳 (@J0E007) April 6, 2020
He continued and explained that “My beef is with a cult around S2F, with thousands of muppets chanting in chorus ‘S2F is highly scientific!’ as if it’s end-all-be-all.”
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