BTC the bigger picture
Bitcoin is down nearly 7.5% since 9:00 A.M. (UTC), with a trading volume around $4.5 billion. The price action this morning is another confirmation of the falling wedge, which will reach a pivotal price point around $5800-5900 region (See Chart Below), we have been studying for the past few weeks. Another major indicator that the economic elite have now entered the BTC market is shown by the fact that we have seen reduced volatility - which was a major issue for BTC previously.
Over the weekend, Bitcoin’s volume remained under
4BN for three consecutive days. These are the lowest levels of trading volume for Bitcoin since late November. The declining volume and price action validating the falling wedge has us eyeing the previous bottom for some long positions.
In relation to the Soros news from last week that we shared, a few other powerful families have made motions towards acclimating themselves to the digital currency ecosystem. The venture capital arm of the Rockefeller family has reportedly signed a partnership with Coinfund, a cryptocurrency investment fund. It was also reported back in December that the Rothschilds were scaling into buying Bitcoin via the Grayscale Bitcoin trust. The Rockefeller and Rothschilds are essentially economic royalty in the modern world with ties and power in banking, politics, energy, and industrial business.
These are arguably three of the most powerful families on the international economic stage. The powerful influence they share, along with their public interest and investments into digital currency and blockchain, is promising for the space. Families with this level of influence have historically profited from the major developments and innovations throughout human history.
In our opinion, it is important to have major players publicly aligning themselves with the space. It gives new market entrants and institutional investors confidence in the technology and future of the market.
That being said, while their motions have been made public, that does not mean we will necessarily see positive price action based solely on their intent in the short-term. However, with the economic elite on their way, it shows us that our community is placed in an optimal position to take advantage of the societal and monetary benefits of this financial revolution.
Over the weekend, Bitcoin’s volume remained under
4BN for three consecutive days. These are the lowest levels of trading volume for Bitcoin since late November. The declining volume and price action validating the falling wedge has us eyeing the previous bottom for some long positions.In relation to the Soros news from last week that we shared, a few other powerful families have made motions towards acclimating themselves to the digital currency ecosystem. The venture capital arm of the Rockefeller family has reportedly signed a partnership with Coinfund, a cryptocurrency investment fund. It was also reported back in December that the Rothschilds were scaling into buying Bitcoin via the Grayscale Bitcoin trust. The Rockefeller and Rothschilds are essentially economic royalty in the modern world with ties and power in banking, politics, energy, and industrial business.
These are arguably three of the most powerful families on the international economic stage. The powerful influence they share, along with their public interest and investments into digital currency and blockchain, is promising for the space. Families with this level of influence have historically profited from the major developments and innovations throughout human history.
In our opinion, it is important to have major players publicly aligning themselves with the space. It gives new market entrants and institutional investors confidence in the technology and future of the market.
That being said, while their motions have been made public, that does not mean we will necessarily see positive price action based solely on their intent in the short-term. However, with the economic elite on their way, it shows us that our community is placed in an optimal position to take advantage of the societal and monetary benefits of this financial revolution.
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