The IMF conducted a poll on Twitter to shed light on the direction of how people will pay for lunch in five years. The poll indicates that 56% of its respondents believed that they would be paying in cryptocurrencies, while 27% believe that they will be paying by mobile phone. 9% of the respondents said that bank cards will be used, and the poll closed with 8% who believe that cash will still be used. From this, we can glean that there is a bullish sentiment toward the use of cryptocurrencies.
Over the weekend, most of the top cryptos appeared to be overbought following the bull run from last year’s low, while a few now appear to indicate a bearish outlook.
We will dive deeper to explore the prevailing technical patterns which are setting the tone for the potential trends within the crypto market.
The percentage of the total volume of Bitcoin (BTC) purchased by crypto players in April stretched to 19%, indicating that the major investors expect the bearish trend to end soon.
This increase in volume has lured Chinese traders back into action in the face of a current ban on cryptocurrency in China, perhaps launching a classic case of FOMO. Chinese traders are will to pay above prevailing prices for fees to take a position in Bitcoin using over-the-counter (OTC) services.