The drawn curve is a variation on the "adoption curve" that's been circulating for years. Although I had high hopes for Bitcoin back in the day - actual adoption, in terms of overall utility as well as usage in general - never really caught up to the more optimistic curve that hinted at another bull run of enormous magnitude. Instead we have institutional investors hoarding Bitcoins in anticipation of retail investor FOMO. Unfortunately for them, retail investors have yet to follow suit. More troubling, these new institutional hodl-wanna-bes are way out of their depth. Unlike regulated financial markets, crypto land imposes no transparency, rather unknown whales, yet-to-be emptied mega-stash wallets, and various "bad-actors" in the form of central banks and other nation-state entities with increasing stores of confiscated Bitcoins and the necessary determination to tank the market... if that's what it takes to maintain control over the monetary supply.
All the best hodlers... you're gonna need it...
All the best hodlers... you're gonna need it...
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What happens next? Check out my SPY post.
Comment:
Fasten your seatbelts... the US Stock Market and Bitcoin are about to dip superfast in unison...
Comment:
The arch is holding... So, if the broader market dips, Bitcoin should spike right? Initially, maybe. Unfortunately, everyone and their mother has at least a bit of exposure to Bitcoin. Couple that with the fact that everyone is over-leveraged... well, those margin calls have to be covered somehow.
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~36k is the most opportune exit point.