Bitcoin is still consolidating which feels like a relief, since it has run up so much since early November. Thanks to the funniest guy in Crypto, Jason Williams for this chart:
I have been thinking all week, that this is a bull flag. Seems Bitcoin may break up towards $30K before New Years Day. Trust me, I am not saying Bitcoin does’nt go down. It will pull back, more likely in January and then bounce and continue the bull run. Simply based on the fact that it has run up so much since October. But when reviewing the charts. I see no pull back coming yet. This next chart is longer term, zoomed out. Each bull run has at least 10X gains over the peak of the previous bull run. The last one peaked at $19,752, therefore, Neutral ATM believes the next peak is $160K to $220K. We are leaving plenty of room in there, since it is at least a year from now and nobody really knows the peak. Bitcoin has rymed for each halving cycle, this 2020 cycle is the third. Thus, we see 9X to 11X over the previous cycle top:
This last chart is the history of Bitcoin zoomed out almost 12 years. The halving cycles are dotted lines going vertical up. When you zoom out on the charts the cycle tops look much smaller. It is absolutely critical to look at Bitcoin from short all the way out to longe range time frames like this to really understand how the supply shock affects the price:
Neutral ATM is here to get everyone off of zero Bitcoin.
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