I see a brutal downtrend with the upcoming liquidity crisis in the private households. Money is going into food and general supplies and i doubt the 1200 free bux are gonna pump anything.
Monthly Rsi looks bruuuutal
No capitulation occured because theres still too much hopium and too many people waiting to buy lower
Once a large scale move from fiat to bitcoin and gold occurs and threatens the Fiat system bitcoin holding, speculating, transacting will be criminalized.
Dont ever hit me with that bs that bitcoin is unconfiscatable. If the gov wanted btc dead it would be dead and not traded in GBTC.
Last cycle would have brought us brutal capitulation if the markets werent moved so much by demand from the plus token. (chinese believing they could multiply their money easy for free lmfao)
We are basically aproaching base level again without the whole rollercoaster and its still overvalued.
Halvening;
The only bullish thing about it is the lower per year sell pressure from the miners becuase they generate fewer coins.
If miners stop because of the low prices the network will become more vulnerable.
Also the fact that btc is open source is its biggest fking weakness. Is basically like cloning the whole usd system when you hardfork the chain.
In any case we are about to witness either the total destruction of bitcoin or a new financial paradigm and im happy to witness any outcome because its always a learing experience.
ALso check out microsofts patent to mine crypto with the monitoring of data from body functions.
Imho worth a deeper look.
No financial advice, dont use leverage and get your crypto off exchanges.
Monthly Rsi looks bruuuutal
No capitulation occured because theres still too much hopium and too many people waiting to buy lower
Once a large scale move from fiat to bitcoin and gold occurs and threatens the Fiat system bitcoin holding, speculating, transacting will be criminalized.
Dont ever hit me with that bs that bitcoin is unconfiscatable. If the gov wanted btc dead it would be dead and not traded in GBTC.
Last cycle would have brought us brutal capitulation if the markets werent moved so much by demand from the plus token. (chinese believing they could multiply their money easy for free lmfao)
We are basically aproaching base level again without the whole rollercoaster and its still overvalued.
Halvening;
The only bullish thing about it is the lower per year sell pressure from the miners becuase they generate fewer coins.
If miners stop because of the low prices the network will become more vulnerable.
Also the fact that btc is open source is its biggest fking weakness. Is basically like cloning the whole usd system when you hardfork the chain.
In any case we are about to witness either the total destruction of bitcoin or a new financial paradigm and im happy to witness any outcome because its always a learing experience.
ALso check out microsofts patent to mine crypto with the monitoring of data from body functions.
Imho worth a deeper look.
No financial advice, dont use leverage and get your crypto off exchanges.