I usually dont chime in on short term moves as its proved it can do what we least expect,and I know schizo is mainly looking at the charts but: Early ETF investors have just realised about a 25% increase in their investment...in less than 2 months.I have to believe that the Toms Toms are beating. If my neighbour said he allocated to BTC and achieved that and his broker was predicting more of the same I would be calling my broker. Then again,JA mentioned the sell wall at 52 so I guess Im just thinking out loud.
The $1M price target for bitcoin has always been estimated to occur before 2030... but there is a chance given all the things occurring with the bitcoin spot etf, the current halving cycle, that $1M could be reached by eoy 2025 or first half of 2026, whichever is the peak cycle for this bull market cycle Then as in previous bull-bear market cycles, we could see another 80% crash bear market bottom Every cycle, we go up by a factor of 10, 2013 was 4 digit bitcoin, 2017 was 5 digit bitcoin price and 2020 was supposed to be a 6 digit bitcoin price top, but we got robbed when all the scam TradFi company involved in crypto collapsed, FTX/Alameda, 3AC, BlockFi, Celsius, Genesis, Voyager This cycle though has birthed the bitcoin spot etf's. At no time in the history of bitcoin has it ever had a $200M buyer, every single trading day. this is UNPRECEDENTED in bitcoin history Imagine bitcoin going up to $69k only on pure adoption demand from MSTR, Tesla, and the believers, plus retail fomo... now it's a completely, COMPLETELY different bitcoin ball game Very very excited for the next 2 years Look at this chart and tell me what you see
I've traded options on Bitcoin ETFs for years now, but never Bitcoin-Miner ETFs. So today was a first for me. Let's see what happens by October. Actually, markets closed today for $99 profit so far. Will try to milk 1K out of it.
Excellent charts by CTO Larsson. I'll be very happy with $300k top for this cycle (next 2 years), even $200k is not bad