Despite the short-term breather, the recovery is likely to continue. In conclusion, the daily chart is bullish in the short term and the ongoing recovery has a good chance of climbing one floor higher. The round psychological number of US$10,000 should be difficult to break on a weekly and especially monthly closing price basis. The last few weeks before the US election could be challenging. ReddIt. After that, a breakout above US$20,000 and thus a new all-time high would be necessary for Bitcoin to officially return to its long-term bull market. The Fed now owns almost a third of the bonds backed by US home loans. Trending Bitcoin News and Market Sentiment, Weekly Edition, 11th September, 2020: Bitcoin Holds Steady, Square Fights Patent Hoarding, Switzerland Laws Get More Friendly to Crypto, Trending Bitcoin News and Market Sentiment, Weekly Edition 6th September 2020: DeFi Deflates to Prick Ethereum Bubble and Bitcoin Loses Grip on $10,000, But Long-Term Holders Aren’t Flinching, Limited Time Deal: Save $1,000 on Press Releases on Bitcoin.com, NewsBTC & Bitcoinist with Bitcoin PR Buzz this September, Nasdaq OMX-listed Company NPInvestor Launches Crypto Brokerage, CPH Crypto, Trending Bitcoin News and Market Sentiment, Weekly Edition 28th August, 2020: Bitcoin in Brief Retreat, Mixed Crypto Sentiment As SEC Broadens Accredited Investor Definition, More Buy Bitcoin Signals Emerge, Sportsbet.io Remains In the Premier League Through Southampton FC Sponsorship, Southampton FC Pen Partnership and Sponsorship Deal with Sportsbet.io, Review: A Detailed Look into Bitcasino, One of the Premier, Leading Online Bitcoin Casinos, Review: A Detailed Look into CryptoRocket FX that Provides Anonymous Private Trading for Everyone, Review: A Deep Dive into the New Look and Added Features of Online Casino EOSBet.io, LakeBTC Review – Everything You Need to Know. In summary, the current CoT report provides a rather neutral positioning and thus rather suggests a continuation of the consolidation between approx. Even in this unprecedented crack-up boom, volatile pullbacks are occurring to temporarily relieve the pressure in the boiler. However, the correction is likely to continue and the price will probably drop back towards and maybe one more time below US$10,000. As a result, mortgage rates have fallen further, bringing the average 30-year interest rate down from 3.3% at the beginning of February to 2.91% most recently. Disclosure: I am/we are long BTC-USD. Search for RSS feeds . RSS Feeds. In other words, a troy ounce of gold currently costs 0.178 Bitcoin. For the average investor, who is normally also invested in equities and real estate, 5% in the still highly speculative and highly volatile Bitcoin is already a lot. Contrarian, gold & precious metals, cryptocurrencies, Newsletter Provider, Follow Florian Grummes and get email alerts. Especially, the buy-signal from the Stochastic Oscillator still has enough room to run substantially, hence, in the coming days and weeks, prices around US$11,500 to maybe even US$12,000 should be possible without too much of a problem. I wrote this article myself, and it expresses my own opinions.