Bitcoin is just 25% away from getting back in the parabolic growth channel. We may never get back into it but it's not out of the cards. It would be interesting to see that market structure remain intact after such a blow. That would be very, very telling of Bitcoin.
Peace, Love, & Crypto,
B166ER
Peace, Love, & Crypto,
B166ER
"You didn't come here to make a choice, you've already made it. You're here to try to understand why you made it."
―The Oracle
―The Oracle
I'd like to add that PlusToken scammers have been unloading 200,000 Bitcoin since Q3 2019. That number of Bitcoin is equal to 111 days (9.25 months) of new supply from mining at current rates (1800/day). There are still potentially 37,000-61,000 coins left from the scam to be distributed. 61,000 coins is equal to about a month's of new supply. Most of the damage to price from the selling has been done.
So this is why I think the price will surge:
The end of the PlusToken Scam coin dump will create a supply shock.
The halving will create a supply shock.
Less supply at the same level of demand or higher usually leads to higher prices.
cointelegraph.com/ne...coronavirus-analysts