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BTCUSD - GOOD TIME TO BUY

Currently there is a huge stimulus that the U.S. government and the Federal Reserve is providing markets and businesses in an attempt to offset the economic damage caused by the coronavirus pandemic. The moment the liquidity flood ends investors will feel an urgency to realign their portfolios substantially. The idea behind Bitcoin in which it can't be undermined by the government and that won't become worthless if the currency becomes worthless, makes the BTC very attractive asset to own.

Bitcoin has risen above $12,000, exactly a week after it temporarily spiked past the key milestone. Its recent drop below $11,000 was due DeFi unwinding-especially with recently-launched projects like Compound, Yearn.Finance and SushiSwap, and miners and possibly traders taking risk off the table by trading in some of their cryptocurrency.

Bitcoin currently has 18.48 million units in circulation, each worth $11,722 at today's value. This places Bitcoin's market cap at $216.5 billion, making it around half the size of the Indian rupee and just over one-tenth the size of the US dollar. At its current market cap, Bitcoin has a money supply worth more than 170 different fiat currencies. BTC currently occupies the position of sixth-largest currency by circulating supply, narrowly edging out the Russian ruble (RUB) to secure its position.

We believe under current conditions BTCUSD still can be seen a perfect opportunity for a buy order with price target of 13000