Road to 1 million has begun for Bitcoin. Here is why:
Exponential Growth:
To understand bitcoin you need to first understand exponential growth. Here is a simple video for you:
youtu.be/0BSaMH4hINY
However, if you don't have time, here is the summary:
- Exponential growth is counterintuitive
- People don't understand exponential growth
- When exponential growth takes place people usually underestimate how quickly things can change.
Macro:
You also need to understand bitcoin on a macro level and economic perspective. Here is another video for that:
youtu.be/TYCn6oe1RCE
I won't summarize the video because I want you to watch it.
Trend:
To conclude, don't look at Bitcoin as your average SPY chart. It's something very different. If you are a bear and believe that another market crash is looming; so, if the market drops, BTC will follow along. Remember this, Bitcoin isn't conventional. Whatever is happening is of a magnitude beyond our conventional way of thinking.
To understand bitcoin you need to first understand exponential growth. Here is a simple video for you:
youtu.be/0BSaMH4hINY
However, if you don't have time, here is the summary:
- Exponential growth is counterintuitive
- People don't understand exponential growth
- When exponential growth takes place people usually underestimate how quickly things can change.
Macro:
You also need to understand bitcoin on a macro level and economic perspective. Here is another video for that:
youtu.be/TYCn6oe1RCE
I won't summarize the video because I want you to watch it.
Trend:
- The long term triangle has been broken
- The price cycle happens in 4 phases: Accumulation, Markup, Distribution, and Markdown. From the previous bull run, the three phases: the distribution, markdown, and accumulation took place in more than 700 days. One thing I noticed from the chart is that for parabolic growth:
Distribution + Markdown + Accumulation = Markup - In short, if the three prior phases take 700 days, the bull run will continue for 700 days. I don't know if there is a theory in a textbook for such a thing. Lemme know if there is one.
- Long term MACD crossover is taking place.
To conclude, don't look at Bitcoin as your average SPY chart. It's something very different. If you are a bear and believe that another market crash is looming; so, if the market drops, BTC will follow along. Remember this, Bitcoin isn't conventional. Whatever is happening is of a magnitude beyond our conventional way of thinking.
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