#BTCUSD: Trend is up in the long term and now mid term as well..
Updated
Everyone continues to be bearish and fearful among the crypto folk, which is highly interesting. In this market, only the lowest of IQs and the highest will make money, as strange as it sounds, since it's a strong trend. Normal folks who suffer from post 2018 to 2020 bear market PTSD are reluctant to hold and take risks this time around, right when taking risks is rewarded. This leaves corporate entities fomoing into BTC and new entrants from the 'stacking sats' movement as the only people making money steadily.
It will be interesting once we have more and more momentum in the new trend of CEOs acquiring #BTC reserves from their cash piles, as this might cause a big self reinforcing trend, together with the Grayscale and Halving effect reducing available supply. This trend can go for a long time, until something big pops it, most likely due to government intervention. Long term technicals suggest this will go on until mid 2022, and I believe this is accurate and logical with fundamentals here.
Think of this:
-CEO of company A picks up #BTC reserves
-Company A's stock goes up due to it
-#BTCUSD goes higher after the announcement
-People fomo into #BTC
-Funds and other entities bound by limitations to trade #BTC directly fomo into company A's stock to get #BTC exposure.
-Other companies' CEOs fomo into #BTC as well, seeing Company A's stock price surge as a result.
-Repeat loop with more companies and more people fomoing into #BTC and stocks.
When does this cycle end? Only a big catalyst can stop a self reinforced trend in motion. When it pops it will be spectacularly catastrophic though.
Cheers, see you by mid 2022, at much, much higher prices (between 60k-186k-360k-2.2m USD per #BTC over time)
Ivan Labrie.
It will be interesting once we have more and more momentum in the new trend of CEOs acquiring #BTC reserves from their cash piles, as this might cause a big self reinforcing trend, together with the Grayscale and Halving effect reducing available supply. This trend can go for a long time, until something big pops it, most likely due to government intervention. Long term technicals suggest this will go on until mid 2022, and I believe this is accurate and logical with fundamentals here.
Think of this:
-CEO of company A picks up #BTC reserves
-Company A's stock goes up due to it
-#BTCUSD goes higher after the announcement
-People fomo into #BTC
-Funds and other entities bound by limitations to trade #BTC directly fomo into company A's stock to get #BTC exposure.
-Other companies' CEOs fomo into #BTC as well, seeing Company A's stock price surge as a result.
-Repeat loop with more companies and more people fomoing into #BTC and stocks.
When does this cycle end? Only a big catalyst can stop a self reinforced trend in motion. When it pops it will be spectacularly catastrophic though.
Cheers, see you by mid 2022, at much, much higher prices (between 60k-186k-360k-2.2m USD per #BTC over time)
Ivan Labrie.
Trade closed manually
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