Bitcoin Bottom?
Frank on Market Insights | 
BITCOIN HAS BEEN TRYING TO FORM A BOTTOM SINCE THE DECEMBER LOWS. Given the 2018 collapse – and the various false starts we witnessed along the way – this technical pattern has not encouraged much excitement yet. That’s understandable.
However, this time, BTC has company. Yes, other Cryptos are showing similar formations, but it’s the demand across OTHER asset classes that makes this breakout attempt interesting.
The 2017 parabolic rise in BTC was historic, and no one expects that repeat. But a major reason that even had a chance of happening was because of the simultaneous and persistent demand for global equities and commodities.
Thus far in 2019, equities world-wide have come roaring back from the December, abyss, as have many commodities.
And many now have formed multi-month bottoming formations, which they are just now trying to leverage.
So, could the S&P 500, the German DAX and Crude Oil suddenly just reverse lower? Of course, that’s always a risk. But if the general appetite for risk persists, many asset classes could stand to benefit – including Bitcoin.
