I see an ascending channel from ~14 December, when the price evolves in the bottom of the ascending channel, it pumps slowly but surely and always bounce back from the bottom of the channel. When the price evolves in the top of the ascending channel, it pumps faster and higher before going back to the middle or the bottom of the channel. Stimulus check increasing from $600 to $2000 Censorship and massive purge on social networks Washington and Columbia (South Carolina) under emergency until 24th January 25th amendment rejected 2nd Trump impeachment tentative Presidential transition the 20th January Tensions rise as rumours of civil war are intensifying
Just curious as I don't see about the stimulus checks having a real effect at the moment. A large portion if not nearly all or most aren't in the position at the moment to invest.
Many are behind on bills and need basic necessities. So I don't think the buy into crypto at btc at a ATH at the moment is what many people will do with their stimulus checks.
Too many are in financial strain or ruin. If its going to 42k its just testing the new ATH and seeing how much interest there is to buy rather than sell.
Nugacity_Fracedinous
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@pensador84, the stimulus check takes time to be injected. First they debate at the Congress, then the president signs the law.
I don't think also the balance sheet is perfectly correlated with Bitcoin, more cointegrated, and even with cointegration charts, they don't add the China balance sheet (which printed 23T$ fake dollars, and 20T$ more are missing).
Even if people cannot buy Bitcoin because of bills, basic necessities, crisis, institutions are buying all issued Bitcoins.
Dump usually happen when there are "massive" supply coming from miners to exchanges and Bitcoin remains strong whatever.
Many are behind on bills and need basic necessities. So I don't think the buy into crypto at btc at a ATH at the moment is what many people will do with their stimulus checks.
Too many are in financial strain or ruin. If its going to 42k its just testing the new ATH and seeing how much interest there is to buy rather than sell.