Bitcoin (BTC) in Bullish Trend: Hedgeye Risk Management CEO

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Wed, 05/06/2020 - 12:46
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Yuri Molchan
The CEO of a major investment company, who treats Bitcoin as a commodity, believes that BTC is now in a bullish trend
Bitcoin (BTC) in Bullish Trend: Hedgeye Risk Management CEO
Cover image via twitter.com
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The Bitcoin price is increasing and has added around $300 over the past few hours. While BTC keeps growing, analysts are expecting it to continue its bullish movement and perhaps even break the $10,000 level.

BTC CMC
Image via CoinMarketCap

Meanwhile, the CEO of a major investment research company believes that BTC is in a bullish trend, even though he looks at BTC entirely as a commodity.

Bitcoin is currently in a bullish trend: Keith McCullough

Keith McCullough, the CEO of Hedgeye Risk Management, believes Bitcoin is in a bullish trend now, as it has been climbing fast from under $9,100 to the $9,300 zone.

A Twitter user has asked McCullough what it would take to convince him to consider Bitcoin not only as a commodity but as a payment system as well. The investment fund CEO responded that the only thing he believes is the math implied by his trading signal.

Earlier, McCullough admitted that he treats Bitcoin just as any other commodity with no sentimental narrative of it being anything more than just that.

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Breaking $10,522 would shut bears up for good: Scott Melker

Prominent trader Scott Melker has shared his take on the current Bitcoin price action, offering three scenarios, each being more bullish than the previous one.

“A daily close above $9,214 would be bullish. Breaking the descending black line would be more bullish. Breaking the purple line at $10,522 would be a higher high and would shut bears up for good.”

BTC
Image via Twitter, TradingView
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.