IMO, we are in the most critical days of Bitcoin rally. We should consider all the possibilities..! Why? Because at the end of the past bullish rallies Bitcoin experienced a massive correction of 83-86%..! What makes it more interesting is that Bitcoin corrected -27 to-35% just in the first month. At this moment I believe Bitcoin is not either a buy or sell. For those who have it in their portfolio it is a clear hold, but for those who don’t , it is better to watch it for a clear breakout! Which side, up or down? At this moment, I believe no one can answer the question! I believe the bearish case is more probable! Why? Because: Bitcoin with +1.1 Trillion market cap is - 6th biggest tradable asset after Alphabet - is bigger than the first 3 biggest banks combined JP Morgan Chase (433B) + Bank of America (306B) + Industrial & Commercial Bank of China (290B):1.029 Trillion What is your prediction? Upward Or downward Breakout? It could be interesting for you if you check my Tesla analysis with the same title..! Moshkelgosha
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Dont let the 60k price tag fool you..! Bitcoin Market cap is 1/10 of Gold..! Gold's Market Cap Estimated Market Cap: $11.055 T The Market Capitalization of Gold is currently around $11.055 T.
This value was obtained by multiplying the current gold price ($1,740 per once) with the worlds' above-the-ground gold reserves.
The amount of above-ground reserves for Gold are estimated to be around 197,000 metric tonnes according to the World Gold Council. Note that the estimated ground Gold reserves can vary by up to 20% from one source to another.
As a consequence, it is safe to say that the current Market Cap of Gold is between $8.844 T and $13.265 T.
I think it will stay in the comfort of its triangle until it’s forced to leave. :)
Up or down? The opposite of what ever the mkt is predicting at the moment. Unless you are a mkt maker........I gave up guessing long ago.
crypto008
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Well if we look at inflow its NEVER been lower, noboady is willing to sell:
ibb.co/ZhBRhfN
If we look outflow, someone big just bought 12600 Bitcoin at 60k ibb.co/mCxKhNS
Goldman Sachs recently brought back its bitcoin trading desk and will be offering a “full spectrum” of bitcoin investments. The firm is seeing huge institutional demand for bitcoin. They just said
TR7z
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hy,great job..my view
simplejoe1
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there's a big difference between bitcoin and gold. gold is accepted by all the central banks and governments. bitcoin is not accepted and perhaps even hated by the banks. they feel threatened by it. so it is very risky comparison IMHO
watchtrend
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watchtrend
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Possible coming time down trend for btc.
trojan_hearse
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I don't think picking on the valuation of individual companies or banks is a fair comparison. Total value of assets under management globally is something like $110 to $120 trillion USD and forecast to grow massively. Crypto has a long, long way to go. It won't be all plain sailing but overall I would say the sky is the limit.
Options360
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I predict Bitcoin only has two directions possible from now into the future. Up or sideways. Good luck.
Up or down? The opposite of what ever the mkt is predicting at the moment. Unless you are a mkt maker........I gave up guessing long ago.