Founder and chief market strategist of Northmantrader.com Sven Henrich in the shadow of war bitcoinHe evaluated the possibility of a “rally”.
Listing four reasons why he believes Bitcoin is increasing in value as “fundamental, sentimental, technical and security trading”, Henrich said that the leading cryptocurrency rally in the face of crisis he said he would.
Bitcoin (BTC) price started to rise yesterday evening and climbed up to $ 45,800. The price of the leading cryptocurrency has not been this high since January 20, 2022. The rise of Bitcoin brought many discussions on social media and various forums.
In his tweet about this latest rally of Bitcoin, Sven Henrich said:
Why #Bitcoin is rallying in the face of this crisis.
4 reasons in my view:
fundamental
Sentiment
technical
safety tradeThread 👇
— Sven Henrich (@NorthmanTrader) February 28, 2022
Basis: The increase in adoption and acceptance continues. This path will continue according to me. The market shows no signs of regression but continues to expand.
Sensuality: The Ukraine crisis highlights how Bitcoin can act as a support mechanism to raise funds when traditional avenues are cut.
Technical: Bitcoin showed an example of positive divergence, with a higher bearish and rise against stocks in February.
Security Trading: Enforcement of sanctions can make Bitcoin a safe haven. Because recently, it seems that Bitcoin has been used to avoid sanctions.