For all of you thinking “oh no, BTC is going to go to -$5000, I need to sell! Tether! Double spend! Yellen! Woe is bitcoin!”
Michael Saylor is having a global conference on Feb 3rd and 4th of hundreds of top corps and businesses looking to get into Bitcoin.
Currently, after our last dip, Grayscale, MicroStrategies, and whales are seriously holding and buying up some of the dips. Check Glassnode.
Then, the SOPR indicator (spent output profit ratio) has been reset to 1, meaning all you weak hands have been shaken out.
WHY is Bitcoin trading sideways? The Dixie is doing well. However, it just broke the neckline of its H&S, it’s going DOWN. Many think it’ll be bought at 85. With the announcement of the stimulus, I expect high 60’s.
What does this all mean? You can certainly analyze trends, patterns, etc. But taking a look at a few companies throwing even 1% of their portfolio to bitcoin, DXY going down, the SOPR reset, and whales not selling below $40k- don’t be a weak hand, nothing is guaranteed, but we are staring up at the precipice of Bitcoin’s maturation.
Don’t get clogged up in short time frame thinking unless you’re not hodling and just taking advantage of a volatile asset to day trade, remember- there were those of us years ago that said “wow Bitcoin hit $10! Let me sell now”. Same can be said for every single year of Bitcoin’s history other than ‘17 and ‘18.
Michael Saylor is having a global conference on Feb 3rd and 4th of hundreds of top corps and businesses looking to get into Bitcoin.
Currently, after our last dip, Grayscale, MicroStrategies, and whales are seriously holding and buying up some of the dips. Check Glassnode.
Then, the SOPR indicator (spent output profit ratio) has been reset to 1, meaning all you weak hands have been shaken out.
WHY is Bitcoin trading sideways? The Dixie is doing well. However, it just broke the neckline of its H&S, it’s going DOWN. Many think it’ll be bought at 85. With the announcement of the stimulus, I expect high 60’s.
What does this all mean? You can certainly analyze trends, patterns, etc. But taking a look at a few companies throwing even 1% of their portfolio to bitcoin, DXY going down, the SOPR reset, and whales not selling below $40k- don’t be a weak hand, nothing is guaranteed, but we are staring up at the precipice of Bitcoin’s maturation.
Don’t get clogged up in short time frame thinking unless you’re not hodling and just taking advantage of a volatile asset to day trade, remember- there were those of us years ago that said “wow Bitcoin hit $10! Let me sell now”. Same can be said for every single year of Bitcoin’s history other than ‘17 and ‘18.