Technical Charts Show Bitcoin Poised for Another Rally
— Visit, Longterm, Tom demark, Downside retracement, Leading, Structural damage done, Years, Bitcoin — 1 min read
Bitcoin-Linked ETF (BITO) focuses on bitcoin futures, allowing investors, short-term or long-term, to get exposure to the leading cryptocurrency on a traditional market exchange. CNBC’s “Mad Money” host Jim Cramer noted that a chartist foresees a rally over the next few months. However, reaching that old high of almost $70,000 from back in November 2021 will take some time. Bitcoin has followed stocks and bonds on the way down in the first half of 2022 with the same inflation fears and recession risks. The leading cryptocurrency fell below $20,000 before coming back, but those same highs in 2021 could be a long way from returning. Cramer said it could take many years for bitcoin to come near its old highs Source