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Hyperbitcoinization: gradually, then suddenly
Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé.
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Bitcoin is at an interesting point in time: RSI 70. Traditional investors use a 30-70 RSI range, so they start to get worried that BTC is overbought now. BTC investors on the other hand know that normal BTC RSI range is 40-90, so RSI 70 is only slightly above the average (65)🚀
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Bitcoin is so much more than just technology adoption. Note that the main reason why bitcoin was made is debasement, i.e. fiat money printing by central banks, resulting in (hyper)inflation and fiat money debasement.
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Just to confirm bitcoin is still in a bull market🔴 I see some people turning bearish and shorting, but the data tells a different story, a bullish story IMO. We just need some patience.
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Bitcoin has tracked powerlaw very well. Question is: will we see a 2013,2017,2021-like bull run with RSI 80+ (red dots) and if so how high will BTC go from here, 100x like 2013, 10x like 2017, 4x like 2021, or 2x (to ~$200k) like most people think, or .. 5-10x in line with S2F?
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Would be nice if RSI hits 75 (orange dot) again this month! RSI 75 = ~$130k June closing price.
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