I wanted to stress the fact that we've discovered reasonable price within the 7K - 9K lower bound. This creates a reasonable bottom on the market. If you are feeling hopeful, you can chart market behavior, when is historically at this same level.
Interestingly, last year at the current volumes, people were buying the same amount at a fraction of the price we are at today. Much larger checks are being written, to buy the same volumes, thus adding more confidence to this market ( BTCUSD ). To put it again, the same is accomplished as last year (see yellow box), but at far lower prices. This is , putting it mildly.
When was this high, the BTC market possessed a range of 181%, or the ability to almost quadruple price by holding, short term. This notional value in the currency, at current levels, simply attracts more , as buyers pile on for easy gains.
The potential natural gain in the chart is much better than in the first three months of the year. Does this mean we will get more out of holding BTC? Surely it must, especially as we exit the lower quadrant of the 200 day MA, as I wrote about today. Much is expected, going forward.
I tend to keep Pantera Capital's expectation that BTC reaches an affordability point every two months; we just located it a week ago, and we will experience an uptrend, next month or so.
Accepting a lower bound of $8,500, an 181% market range may deliver us prices as high as $32,000 this year, trading in the current . Once we obtain that pricing, the parabolic moon shot is alive again. More to come.