That’s to say, most investors were seemingly sidelined throughout this move, not getting overleveraged on the side of bulls or bears.<\/p>\n Kelvin “SpartanBlack” Koh \u2014 partner at The Spartan Group, a crypto fund, a former Goldman Sachs partner \u2014 echoed this sentiment<\/a>.<\/p>\n He wrote in a tweet citing Fiskum’s analysis that he thinks Bitcoin investors are “still somewhat risk off,” with the options market, the relative strength index, and the “fear and greed” index all at points indicating most market participants are still sidelined.<\/p>\n These factors indicate that Bitcoin’s bull trend is far from exhausted, giving the cryptocurrency lots of room to the upside to rally sustainably should buyers step in over the coming weeks.<\/p>\n That raises a pressing question: where exactly will Bitcoin go next? Will it rally to $15,000? $17,000?<\/p>\n The answers to this question are all over the map, but prominent investors believe that Bitcoin breaching $20,000 by the end of the year is entirely possible, citing a confluence of fundamental and technical factors.<\/p>\n Speaking to CNN on May 12th,<\/a> Galaxy Digital chief executive Mike Novogratz suggested BTC would hit $20,000 in the coming seven months.<\/p>\n Backing his prediction, he cited three things:<\/p>\n Reducing "look stupid" risk & a global "fiscal orgy" could see $BTC<\/a> hit $20K by year-end! Colorful as ever conversation with @novogratz<\/a>\u00a0from Galaxy Digital. pic.twitter.com\/sqdFZxKiNK<\/a><\/p>\n — Julia Chatterley (@jchatterleyCNN) May 12, 2020<\/a><\/p><\/blockquote>\n![\"Chart](\"https:\/\/pbs.twimg.com\/media\/EX4VVn-XkAESkoI.jpg:large\")
Where Will the Bitcoin Bull Trend Top?<\/strong><\/h2>\n
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