Bitcoin is gaining mass adoption. Besides El Salvador, other countries are sure to follow, moving further and further away from the inflationary USD dollar that is causing turbulent economic swings in many emerging markets. It is also important to pay attention to Bitcoin's little brother, Ethereum, which is about to release its London Update. If the London Update is successful in mid-July, I expect Ethereum to pull its big brother along and together they will correct and drastically lift market sentiment again.
And people who talk about a 5k bitcoin or 10k bitcoin, please do me a favour and be honest with yourselves. Even the huge short sums on Bitfinex could not break through the 30k support. The 30k is not just a huge support line but also a demand zone on weekly. And there has never been such a short bull run!!! We're just in the middle of it! Don't fall for the banks, JPmorgan or Warren Buffet. We might dip at mid july below the 30k for a short amount of time (read more below why!)
China redistribution, more decentralisation!!! More and more countries are making the US dollar vulnerable because they do not recognise it as the only currency!
In the short term, Grayscale's big unlocking in July alone would be bearish if accredited investors seek to offset some of their losses (realized after selling their GBTC shares) by selling BTC on the spot markets, but after the bulk of them are over theres like... 0 spot btc sellers left right?
This is just my opinion, it may be wrong. This is not an investment recommendation to buy or sell bitcoin/crypto.
And people who talk about a 5k bitcoin or 10k bitcoin, please do me a favour and be honest with yourselves. Even the huge short sums on Bitfinex could not break through the 30k support. The 30k is not just a huge support line but also a demand zone on weekly. And there has never been such a short bull run!!! We're just in the middle of it! Don't fall for the banks, JPmorgan or Warren Buffet. We might dip at mid july below the 30k for a short amount of time (read more below why!)
China redistribution, more decentralisation!!! More and more countries are making the US dollar vulnerable because they do not recognise it as the only currency!
In the short term, Grayscale's big unlocking in July alone would be bearish if accredited investors seek to offset some of their losses (realized after selling their GBTC shares) by selling BTC on the spot markets, but after the bulk of them are over theres like... 0 spot btc sellers left right?
This is just my opinion, it may be wrong. This is not an investment recommendation to buy or sell bitcoin/crypto.