Been a while since since our last in depth BTC analysis so lets refresh and see where we're at today.
Fundamental Analysis:
BTC has been on an absolute rampage since reaching lows last March. Since just last October alone in 2020, BTC soared over 400% reaching a new all time high just over $58,000 USD in February. We have the Fed, Institutional buying, ETF's, stimulus checks, and fomo/speculation to thank for all of this.
Noticeable Purchases:
Tesla purchased $1.5 Billion in BTC
Microstrategy has purchased $3.1 Billion in BTC (Morgan Stanley revealed that it had purchased 10.9% of MicroStrategy)
Jack Dorsey (Twitter & Square) has purchased around $1.7 Billion worth of BTC
Grayscale Investments has purchased over $30 Billion worth of BTC and other crypto currencies
We're still just starching the surface in terms of companies and institutions exposing themselves to cryptocurrencies. While we're due for a possible pullback, we're still very long on BTC and buying dips along the way. The next BTC halving is about 1103 days away scheduled to take place around March 2024. As of February 2020, 18.3 million bitcoins had been mined, leaving only 2.7 million left to be mined. With 7 billion people on the planet, wouldn't mind picking up some whether you see it as a store of value, a replacement to Gold, or the future of payments.
Technical Analysis:
We're watching BTC to hit under the $43,000 levels - $37,000 range. We're still right in the middle of an uptrend channel and we can expect a lot of volatility along the way. We institutional buying and companies looking for exposure to cryptocurrencies, if we do take a large dip, I wouldn't expect to stay there long.
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Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
Fundamental Analysis:
BTC has been on an absolute rampage since reaching lows last March. Since just last October alone in 2020, BTC soared over 400% reaching a new all time high just over $58,000 USD in February. We have the Fed, Institutional buying, ETF's, stimulus checks, and fomo/speculation to thank for all of this.
Noticeable Purchases:
Tesla purchased $1.5 Billion in BTC
Microstrategy has purchased $3.1 Billion in BTC (Morgan Stanley revealed that it had purchased 10.9% of MicroStrategy)
Jack Dorsey (Twitter & Square) has purchased around $1.7 Billion worth of BTC
Grayscale Investments has purchased over $30 Billion worth of BTC and other crypto currencies
We're still just starching the surface in terms of companies and institutions exposing themselves to cryptocurrencies. While we're due for a possible pullback, we're still very long on BTC and buying dips along the way. The next BTC halving is about 1103 days away scheduled to take place around March 2024. As of February 2020, 18.3 million bitcoins had been mined, leaving only 2.7 million left to be mined. With 7 billion people on the planet, wouldn't mind picking up some whether you see it as a store of value, a replacement to Gold, or the future of payments.
Technical Analysis:
We're watching BTC to hit under the $43,000 levels - $37,000 range. We're still right in the middle of an uptrend channel and we can expect a lot of volatility along the way. We institutional buying and companies looking for exposure to cryptocurrencies, if we do take a large dip, I wouldn't expect to stay there long.
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.