The path we need is not necessarily the path we take.
In my view, this is the healthiest path forward for BTC. Euphoria is being contained below 14k, but a sudden impulse to the upside would likely create the potential for unnatural moves up resulting in a blow-off top, indicating a trend-reversal and heavy liquidation. Not impossible to recover from that, but if we can possibly contain the excitement until a 20k breakout, we'll be poised to double or triple btc's marketcap in 2021-22. If we can't, there will be blood, and we'll need to go back to the drawing board.
There is a decreasing number of convincing bear arguments at these levels, but obviously, the double-tops near current price levels (14k-ish) and then at 20k are real possibilities. The *way* we arrive at those price points will determine the outcome.
In my view, bitcoin is convincingly bullish. The uncertainty in global economic trends, COVID, and rising debt levels all correlating with bitcoin's bullish price action suggests bitcoin is gaining popularity as a legitimate hedge against global uncertainty and an anemic dollar.
While I expect volatility across the board in global markets, I see this as a bullish environment for bitcoin.
Occasional, sudden regulatory oversight developments carried out by industrialized nations' legislative bodies might create temporary hurdles for btc's uptrend, but I struggle to see a damning narrative that moves the needle into convincingly bearish territory. The fact that I am even reaching this far to provide an opposing view for bitcoin's bullish path forward only serves to reinforce the legitimacy of this bull market. That said, always protect yourself by implementing a risk management strategy that reflects your personal tolerance for risk. Be safe, and good luck!
There is a decreasing number of convincing bear arguments at these levels, but obviously, the double-tops near current price levels (14k-ish) and then at 20k are real possibilities. The *way* we arrive at those price points will determine the outcome.
In my view, bitcoin is convincingly bullish. The uncertainty in global economic trends, COVID, and rising debt levels all correlating with bitcoin's bullish price action suggests bitcoin is gaining popularity as a legitimate hedge against global uncertainty and an anemic dollar.
While I expect volatility across the board in global markets, I see this as a bullish environment for bitcoin.
Occasional, sudden regulatory oversight developments carried out by industrialized nations' legislative bodies might create temporary hurdles for btc's uptrend, but I struggle to see a damning narrative that moves the needle into convincingly bearish territory. The fact that I am even reaching this far to provide an opposing view for bitcoin's bullish path forward only serves to reinforce the legitimacy of this bull market. That said, always protect yourself by implementing a risk management strategy that reflects your personal tolerance for risk. Be safe, and good luck!
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