Bitcoin Price Analysis: As Paul Tudor Jones Says He’s Long Bitcoin And Gold, Traders Buy This New ICO With A 1,725% APY
The Bitcoin price fell almost 1% in the last 24 hours to trade at $66,858 as of 03:31 a.m. EST on trading volume that plunged 20% to $29 billion. This comes as legendary billionaire hedge fund investor Paul Tudor Jones told CNBC’s Squawkbox that he’s hedging against inflation by investing in assets such as Bitcoin, gold, and tech stocks, while studiously avoiding fixed-interest assets. Bitcoin Price Aims For A Bullish Rally According to the BTC/USD chart Analysis on the 1-day chart, the yellow upward-sloping lines outline a rising price channel, indicating a sustained uptrend. The Bitcoin price has been consistently making higher lows and higher highs within this channel since mid-September, which is a classic bullish signal. According to data from GeckoTerminal , the $52,500 support allowed the bulls to stage a continued bullish rally. As a result, the price of Bitcoin now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the likely b...