Bitcoin $100k by Q1
- Bitcoin has traded relatively sideways for the past 8 months, after recovering from the FTX fallout of late '22 around 15k, it has rallied to new highs over the past two years back to ~
73K
- with the backdrop of Bitcoin ETFs live + general favorability towards crypto as an asset class from tradFi incumbents, am expecting the gap between Bitcoin [1.2T] and Gold [15T] to continue to close over the next few years
- many are concerned w/ the results of the US election, as it is believed a Trump admin would be more favorable to crypto regs & policy, regardless of the outcome, believe that Bitcoin would be the least affected out of all cryptocurrencies, & if do get a Trump victory expect price to respond positively shortly thereafter
- with FED moving to cut rates + be more accommodative towards the economy, also have an incoming tailwind for risk assets wrt global liquidity
- BTC has made a higher low after touching ~
49K for the first time since shifting into a downtrend in March, and is looking to put in its first convincing higher high on the weekly and monthly timeframes, looking to bid area around quarterly open of 63-64k and targeting new highs, the move following this long consolidation period should be aggressive, think its possible that Bitcoin touches 200k+ this cycle
73K- with the backdrop of Bitcoin ETFs live + general favorability towards crypto as an asset class from tradFi incumbents, am expecting the gap between Bitcoin [1.2T] and Gold [15T] to continue to close over the next few years
- many are concerned w/ the results of the US election, as it is believed a Trump admin would be more favorable to crypto regs & policy, regardless of the outcome, believe that Bitcoin would be the least affected out of all cryptocurrencies, & if do get a Trump victory expect price to respond positively shortly thereafter
- with FED moving to cut rates + be more accommodative towards the economy, also have an incoming tailwind for risk assets wrt global liquidity
- BTC has made a higher low after touching ~
49K for the first time since shifting into a downtrend in March, and is looking to put in its first convincing higher high on the weekly and monthly timeframes, looking to bid area around quarterly open of 63-64k and targeting new highs, the move following this long consolidation period should be aggressive, think its possible that Bitcoin touches 200k+ this cycle
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