Objective Forex: Bitcoin, looking stronger

Tuesday, June 9, 2020

Bitcoin, looking stronger

Bitcoin(BTC) is looking strong once again, after a steady rise since the low of $5,000 in March this year. 

We are once again reaching the critical $10,000 levels and we expect to see it break free again. Volatility is very low and the price range is narrowing showing increasing buyer confidence. We are issuing a strong buy play due to this.

BTC Buying Price: $9,000

In addition, the world of cryptocurrency is stealthily becoming more mainstream. Fidelity recently shared a study showing as many as 36% of institutional investors(hedge funds, etc) own some crypto assets. Cryptocurrencies are growing in market value and becoming widely known and even considered as viable alternative payment methods even more so than in the past few years. XTZ a new contender is looking good, while BCH, XRP, and ETH begin to pick up momentum.

General Stock Market Update

As fears of covid fade market confidence is returning, and after the slight decline from the beginning of the year the total market has nearly recovered completely, even during the decline our Long Term Superstocks outperformed the market and continued to grow, showing how solid and safe these valued picks are, kudos to those of you still owning some of these securities.

Previous plays
Aphria Inc (APHA) is still looking very strong at $5.06. We are continuing our buy recommendation on this pick.

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