Welcome to this new update on Bitcoin!
I don't have much to say other than check the chart! I love simple macro analysis as it gives further confidence and perspective for our investments.
- Monthly crossover
- Monthly broke major resistance line.
- halving event in May 2020 will yet again significantly reduce the BTC supply.
- institutions are drooling over this investment opportunity, which is not provided by ANY other asset class
- Lower supply + Increased Demand = Higher Price (economics 101)
- 3 year bull run (from beginning of this year) is in FULL swing.
Bitcoin loves that 9,000-10,000% pump every BULL cycle, as you can see. Sometimes it even continues to pump 1,000+% beyond that. I'll be conservative and just say this BULL cycle will show us a roughly 9,000% pump. Therefore, I'm having a difficult time seeing Bitcoin under $250,000 at the height of the 2021 bubble!