A Rich Bitcoin Whale Moved $1.1 Billion in BTC. Here Is Where the Crypto Is Going
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Rob Koyfman, former Goldman Sachs VP, recently explained why he believes that Bitcoin (BTC) is poised for a big rally after months of reluctant price growth.

Koyfman, who is presently the founder and CEO of markets intelligence firm, Koyfin, stated that the decision made by United States Federal Reserve (Fed) to print US dollars in order raise the economy would result in weakening the world’s reserve currency, which would open Bitcoin (BTC) to a significant bull run.

He wrote:

“The Fed’s commitment to prolonged use of QE may represent a major turning point for the US Dollar. Over the past 30 years, the US Dollar has formed three distinct tops in 1985, 2000, and potentially in 2020… A break below [the current] trend line would confirm a major decline for the USD with implications across asset classes.

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Going by Rob Koyfman’s account, Bitcoin (BTC), the first and largest cryptocurrency by market capitalization, is ready to start a rally on its own, believing that a weakened US dollar could soon enhance the growth of the digital currency to record new all-time highs.

“Bitcoin is setting up to have a significant move higher, and a weaker USD would be a strong tailwind… Bitcoin has consolidated over the past two years and is primed to make a big move higher… USD weakness may be a catalyst for Bitcoin breaking out to new highs.” Rob Koyfman added.

Josh Rager Believes Bulls and Bears Will Continue Their Face-Off

Josh Rager, a popular trader, and cryptocurrency analyst expects the bulls and bears to continue their face-off until key levels are captured by either side.

“BTC Nothing much has changed. Watch for reclaim of $9,550, the $9,800 for [bulls]. Watch for break below $9,250 short term, and if things get serious $8,500 for [bears].”

According to CoinMarketCap, Bitcoin (BTC) is trading at $9,308.53, with a 0.15% price downtrend in the last 24 hours.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.