Several major altcoins have outperformed in January 2020. However, with the reward halving just over three months away, Bitcoin might play catch up. During the previous two halvings, Bitcoin rallied just before and after the event. Weiss Ratings believes that history will repeat itself in the upcoming halving and the only question is how high can the rally extend.
Bitcoin’s current technical set up has a variety of social media personalities feeling bullish about the digital asset’s future price action. In a recent market discussion with Cointelegraph, popular YouTubers The Moon (Carl Runefelt) and DataDash (Nicholas Merten) said that Bitcoin has already entered a bull market when viewed from a longer-term time frame. However, Merten said that a parabolic move is unlikely to start until Bitcoin rises above $20,000.
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Source: investing.com
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