The cryptocurrency community and even institutional investors are watching Bitcoin for a new long-term uptrend to begin. However, this may not occur until after the 2020 United States Presidential Election taking place in November of this year due to US-China FUD.
Believe it or not, there remain traders that are macro bearish on Bitcoin. That’s to say, there are some investors that think the capitulation crash to $3,700 was not the worst of the bear trend.
There was a short period last week during which altcoins outperformed Bitcoin. Yet XRP and the rest of the cryptocurrency market have begun to underperform the market leader yet again.
The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place.