There is noteworthy probability that Bitcoin may go parabolic.
Updated
The probability of the price going parabolic may be low it is worth noting, but low enough to give those long reason to hold.
It is very uncommon for BTC to actually be priced this high at the moment.
Bitcoin's average entryprice/person well below this price historically. Since inception the price has only been over 10k for sub 100 days. So most who have been in Bitcoin have a profitable position – heavily so at that. I'm not saying everyone - I'm saying almost everyone. This has all the makings of having the price run up even further.
Maybe things will not be parabolic, we may even see volume drop, so worse case I see is a lengthy and glorious melt up.
Frankly again I imagine some profit taking there, but it is very important to note that almost everyone holding a position in BTC is heavily in the green. That is not very common with every other trading/investment product retail is using imo.
Only 6% of Americans have purchased Bitcoin, and the normalization of this will take time, but it is exciting seeing many analysist' predictions playing out now.
I imagine euphoria may build, people will see headlines with new buzzwords:
This may be our next beautiful tulip.
The road ahead will be bumpy - but the product is in a bull market.
I don’t know about you, but my favorite place to be is in a bull market, and I think this thing has probability of going parabolic. Again not calling for the moon, but for all of us long this past week I’m glad we had tickets to the rocket.
It is very uncommon for BTC to actually be priced this high at the moment.
Bitcoin's average entryprice/person well below this price historically. Since inception the price has only been over 10k for sub 100 days. So most who have been in Bitcoin have a profitable position – heavily so at that. I'm not saying everyone - I'm saying almost everyone. This has all the makings of having the price run up even further.
Maybe things will not be parabolic, we may even see volume drop, so worse case I see is a lengthy and glorious melt up.
Frankly again I imagine some profit taking there, but it is very important to note that almost everyone holding a position in BTC is heavily in the green. That is not very common with every other trading/investment product retail is using imo.
Only 6% of Americans have purchased Bitcoin, and the normalization of this will take time, but it is exciting seeing many analysist' predictions playing out now.
- Share price confidently broke out of Resistance 1 strongly this week – to say the least.
- Moving average is very bullish will be pointing higher even more aggressively after this runup this week.
- Price action is about as bullish as it gets & indicates to me that after some profit taking, we will be heading towards our next target of R2.
- Money supply increased very rapidly, with the FED setting expectations of seeking to keep rates low for years, and enabling inflation to move up modestly a bit.
I imagine euphoria may build, people will see headlines with new buzzwords:
- Shards
- AltCoins
- Staking
- Proof of Stake
This may be our next beautiful tulip.
The road ahead will be bumpy - but the product is in a bull market.
I don’t know about you, but my favorite place to be is in a bull market, and I think this thing has probability of going parabolic. Again not calling for the moon, but for all of us long this past week I’m glad we had tickets to the rocket.
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