Bitcoin dropped again yesterday and is accumulating in the 10,400 to 10,500 range today. This does not mean Bitcoin is dead or even not to invest in it now. It means it is accumulating and the stock to flow model is still on track.
The cycle is every 4 years there is a halving and 6 to 12 months after the halving there is a bull market that lasts another 12 months more or less. We are at the base of the bull market climb. The Macro Environment is tough right now and the Nasdaq and SPX have drug down Gold and Bitcoin. However, the hash rate, number of addresses with <1 BTC, Whale addresses with <1K BTC, Hodling rate are at or over all time highs. This means Bitcoin and the Blockchain network is as healthy as it has ever been. Holding on for dear life (HODL) has worked especially when combined with buying the dip when Bit coin touches it’s 21 day moving average. The grey line on the stock to flow model is the 21 day MA. Also notice the black line on the stock to flow model. The 200 day MA. It is trending up, and should steepen higher as this bull market gets into maturity. This is Bitcoin’s third halving and fourth Bull Market cycle. Trust the history, trust the network. HODL Bitcion.
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