Bitcoin Is Only 1.25% From All-time High, Target at $250k Once History Repeat Itself.
At this point, I think am already sounding like a broken record on the Bitcoin massive pump coming, but the truth is no matter how long it takes, it will get there it might not be as soon as some people may think, there will be upward and downward movement as usual in the market but the ultimate thing you should focus on, is that price on the long-term is still bullish, enjoy the ride and be smart while make your decision (Little advice be more bullish than bearish), history doesn't lie.
2013 Vs 2021 Bitcoin Chart side by side Source
On 5 days (5D) timeframe, 2021 Bitcoin chart is repeating what exactly happened in 2013 on the macro and it couldn't be any clearer. April comes with the high then a massive drop, followed by the bounce in July, a little bit of bear moment in September them the huge breakout in October, but we haven't gotten the big pump yet that will take price all the way up to $250k, which in my opinion will be the top.
Bitcoin is currently at $64k and a few moments from breaking the current all-time high at $64,809 the psychological resistance, which is major resistance for Bitcoin to break before the massive pump starts, institutional investors and large companies are getting ready to FOMO in as Bitcoin ETF has already been approved SEC, Grayscale just recently filled to convert their flagship product Grayscale Bitcoin Trust (GBTC) in Bitcoin ETF, which is huge and a bullish signal for Bitcoin.
Despite the China ban of BTC transactions and mining only 150 days ago. Today the network is more decentralized than ever and price has risen +50% . which is Stunning, looks like China's FUD (Fear, uncertainty, and doubt) efforts were in vain.
Tesla and Microstrategy companies both made billion of dollars in profit from their Bitcoin initial investment, specking of Microstrategy, Microstrategy CEO Michael Saylor has suggested Nigeria and Zimbabwe issue currencies that are backed by bitcoin if they want to fix their economies. During an interview which he posted on Twitter few days ago saying "Bitcoin is the Kingmaker".
Posted Using LeoFinance Beta
