When you take inflation into consideration, this is what you get
Big institutional money is looking at this no doubt. When you take into consideration inflation, everything looks more clear. You simply divide the bitcoin price by the total money supply and the chart shows a clear double top. You can see similar happening on the total market cap, but eth is performing right now. Typically you should see profit taking on a double tops. Be extremely cautious at this level. With all the stimulus and congress creating so much money out of thin air, it's a no-brainer people look to crypto for a safe haven from impending hyperinflation. Just food for thought, you do the dishes my friends. I may start charting on this chart for now on. I don't think anybody should be in any sort of leveraged positions at this point. Let this level get resolved first with volume confirming a direction.
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