Daniel Yan: Bitcoin price will catch up

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Kryptanium CIO Daniel Yan said that the US dollar index, 10-year US Treasury yields, and Brent crude oil have all fallen sharply since May 24. All three should point to higher risk asset prices, which means higher Bitcoin prices. But Bitcoin did not go higher during this period because it rose too much between October 23 and March 24 and the sell-offs from Mt Gox distribution, the US/German government, and Jump Trading. Therefore, Yan believes that Bitcoin will catch up, and if 61K can break through firmly, then we will see 64-65K soon.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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