Today I wanted to go over a comparison I don't really see many people talking about. This comparison is one that is playing out identically to a market cycle we all know and if you don't then you're missing out greatly... Based off this comparison BTC is setting up for a ridiculous bull market that will send prices well beyond ATH. Let's get right into it!
First, we have the great almighty BITCOIN! We all remember the historic run we saw from 2016-2018 which saw Bitcoin go from sub $200 all the way to just under 20k. Many thought this was the end of the Bubble Phase for Bitcoin and thus, market sentiment dropped and everybody quit talking about it. Same story different cycle. Bitcoin isn't going anywhere! In fact, fundamentals and new users is only increasing from peak highs we saw at 20k. Why try and fight this historic trend? One word... DON'T!
Now, let's get into the comparison. Right when everybody thought BTC was dead we shot from 3k all the way to 20k and created one of the craziest parabolic runs in market history. After we broke this parabola, Bitcoin dropped to 6k where we consolidated at support for almost a year. Gold had a very similar cycle back from the 1970's to early 2000's where we saw markets go parabolic and then crash to a floor where we consolidated before making one final sell off to capitulate the market before the next cycle up! Bitcoin is following this exact same cycle and there is a fundamental reason behind it that compares to Gold.
The day Gold's market topped out was, "coincidentally" the same day futures trading opened for the market and big players were finally able to short. The day Bitcoin topped out was, "coincidentally" the same day CME futures opened for the market and big players were finally able to short.
They accumulated millions worth of Bitcoin and now they're ready to pump this market to stupid highs... I'll let my comparison speak for itself and you can decide!
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Now, who's going to sit here and tell me that Bitcoin isn't the most BULLISH chart you have ever seen? Like...Really?
You will also notice that both Gold and Bitcoin have made the same type of Adam and Eve bottom before turning North again. You have it marked in the rectangle box. I have it marked below. Click on the chart for more detail.