Neutral ATM is and will continue to be a believer in the stock to flow model. We just finished last week, closing above $13,000 for the first time in 3 years. It took three weeks from that point in 2017 to break the all time high. Since Bitcoin has closed out a week above $13,000 will it be able to close this week above $14,000? We think the answer is yes. Only time will tell. Once that milestone is broken Bitcoin will appreciate faster, at an alarming rate. Will it be able to break $20,000 fast once $14,000 is eclipsed. That is the likely outcome because there is little resistance above $14,000 but again, time will tell. See this chart below:
When the December 2017 all time high (ATH) was achieved Bitcoin went into a bear market for 18 months. Then another short bull market but never a weekly close above $13,000. It wicked above that but no weekly close. This has happened three times and a massive bull run ensued immediately afterwards each time. The fourth time was Sunday at midnight. This is why Neutral ATM is looking for Bitcoin to close this week above $14,000. Whenever that does happen, Bitcoin will steepen the angle of this price appreciation. The election looms. A likely stock market deleveraging looms, so anything can happen. Neutral ATM does not trade short term. We hold Bitcoin long term. We dollar cost average into it and get the best returns that way. Below is a chart showing Bitcoin compared to Gold and S&P500. Lately Bitcoin has been running away from both of these asset classes. We see this continuing and the S&P500 dropping off:
Money printing and a harrowing growth in money supply is fueling the demand growth for Bitcoin. This will not end other than when each of these currencies eventually collapse. So demand for Bitcoin has little chance to subside in the near term. Here is an article about how Bitcoin is an Ark in a flood of money supply, click here to read.
Buying and holding Bitcoin has never been more important than it is right now. Dollar savings are melting away like ice on a sidewalk in July. More and more companies are taking Bitcoin as their cash reserve asset.
Here is the updated list:
The consequences of choosing not to buy Bitcoin now will be dire in the future.
Neutral ATM is here to get everyone off of zero Bitcoin.
Give Neutral ATM a try. We have low rates, convenient locations and we are expanding. Contact Neutral ATM, we will answer all your questions about Bitcoin and using our ATM machines. Find a Neutral ATM Bitcoin machine location near you.