πŸ”₯ Bitcoin VS Bananas 🍌: Bullish Move After Cooling Inflation

In today's analysis I want to shed some light on the Bitcoin divided by the 1000kg Bananas 🍌 price (PBANSOPUSDM). In other words, how many thousands kilo's of Banana's 🍌 can we buy with 1 Bitcoin.

As seen on the chart below, Banana's 🍌 have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's 🍌 has been quite stable.

After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana 🍌 wealth into BTC, with great results.

In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana 🍌 per BTC. Experienced Banana 🍌 traders will most definitely sell some of their Bitcoins for Banana's 🍌 around this area, so watch out for a reversal.

Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it.

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