Bitcoin nearly broke its record for the longest streak of daily price candles this month. Industry pundits are not convinced the cryptocurrency will continue its upward trajectory. Analysts believe the recent surge could be short-lived, and is likely to be similar to other rallies in the US stock market.
Cryptocurrency analyst and swing trader Capo of Crypto tells his 710,000 Twitter followers that BTC’s push past resistance looks like “the biggest bull trap” he has ever seen. Bloomberg Intelligence Senior Commodity Strategist Mike McGlone cites recessionary-like macroeconomic conditions as too big a barrier for BTC to overcome.
Bitcoin price surge: Breakthrough or bull trap? Pundits weigh in
