On today's study we plot Bitcoin (BTCUSD) against two unique formulae that encompass the basic essence of the global money supply. The formula in blue has a differentiation towards Chinese bond yields while the orange on the Chinese Yuan. Both are regressed against the U.S. Dollar and the batch of the U.S. Balance Sheet, Chinese Central Bank Balance Sheet and the ECB's Assets.
BTC bottoms exactly when the orange trend-line bottoms and it starts the parabolic rally of its Bull Cycle when the blue trend-line bottoms on a Lower Low. Right now blue has started to rise after just bottoming on a Lower Low.
This is contrary to common belief and traditional Halving theory, but according to the above monetary metrics BTC may just be starting a new parabolic rally much earlier than anticipated.
Do you agree or it's too soon and you'll wait for the Halving? Feel free to let us know in the comments section below!
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You could be right. But my concern is what happens when/if the ETFs are approved. I tend to think we will see a huge dump. I certainly hope not but I am inclined to believe it will.
ALDONMX
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@mikroland, habria que checar lo que paso con el etf del oro y comparar comportamientos
fxretracer
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I have been trading BTC etc since 2018 and I'm leaning towards a surprise. Waiting to see how it reacts to 47k. If those fast and deep red candles start showing up I'll close and wait to renegotiate a new average. But my average is 33k with my best entries at 28k. I'd never sell any of it till after the halving if I had a 21k or lower average.