Quick Look At The State Of Bitcoin
Updated
Bitcoin has performed exceptionally well so far this year (and will continue to do so in the long run).
You can see Bitcoin is up almost 40.5% for the year.
From here we have two more key levels to break before we test the S2F model's price prediction. (Stock to flow)
Paul Tudor Jones announced he was bullish on Bitcoin.
The halving date is May 12, 2020.
I expect a pull back due to increased selling pressure as unprofitable miners sell their reserves (either to stay afloat, meet their contractual obligations, or to invest in capital expenditures to reach profitablility again, i.e purchase next generation mining eqiupment, ect.).
After the miner capitulation, I believe we will test the two key resistance levels before finally breaking above around Q4 2020 or Q1 2021.
Keep your hands strong!
You can see Bitcoin is up almost 40.5% for the year.
From here we have two more key levels to break before we test the S2F model's price prediction. (Stock to flow)
Paul Tudor Jones announced he was bullish on Bitcoin.
The halving date is May 12, 2020.
I expect a pull back due to increased selling pressure as unprofitable miners sell their reserves (either to stay afloat, meet their contractual obligations, or to invest in capital expenditures to reach profitablility again, i.e purchase next generation mining eqiupment, ect.).
After the miner capitulation, I believe we will test the two key resistance levels before finally breaking above around Q4 2020 or Q1 2021.
Keep your hands strong!
Note
The next level of interest on our way up
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