Based on the price action of the previous bitcoin cycles bitcoin is heading towards a price valuation of around $250k per bitcoin.
Market cap: $250k * 18,800,000 = 4,700,000,000,000 = 4,7 Trillion USD, which is the about the half of the current market capitalisation of gold (not only the gold which is meant as store of value).
It may sound crazy, but this...
disclaimer: i am verty bullish on bitcoin and crypto in general. but:
we saw a crazy rally the last weeks and tho fomo in the markets is insane. i think that btc may face a sharp pullback (~20-35%) soon. this may be a good opportunity for buying.
fear and greed index is still at 'extreme greed'
Double top or bullish continuation?
im leaning towards the bearish case because the overall economy except of the us stock market is in a recession already. we have a bearish rsi divergence on the daily like in q1 2020 and a similar setup too (double top, in q1 the div was more significant).
we saw lots of inlaftion with rising markets. if the pendulum changes...