Are Bitcoin and Crypto-Related Assets Heading for New Highs?
Bitcoin is the undisputed leader of the cryptocurrency asset class. In a November 10 Barchart article highlighting Bitcoin, I wrote: The bullish technical break in October 2023 could lead to much higher prices for Bitcoin, Ethereum, and other cryptocurrencies as investors, trend-following traders, and speculators flock to the asset class. However, the historical trading pattern shows that the higher they rise, the greater the odds of another price implosion. Like a game of speculative musical chairs, when the bullish music stops, buyers become sellers, and prices can plunge. Last week, Bitcoin…