And the Bulls are Off!

in #bitcoinlast month

The following is purely opinion and speculation. All information found herein is fake news.

For those with a keen charting eye, the Bitcoin reversal happened over a year ago in December 2018, as Bitcoin is still respecting the logarithmic support that started in 2013, and its price has yet to break that support. In my opinion, the odds of that support breaking in the near future are low, and it doesn't really matter now with the current global financial situation boiling over.

If we look at bitcoin in a bubble, there is much uncertainty. If we look at Bitcoin compared to the financial economy and the consumer economy globally, Bitcoin has never been more certain to grow exponentially.

It's my opinion that we're diving head first into a global depression not seen since the 1930's, and while we will weather this one better than the last because of technology and government reach, it will leave most people penniless and up to their eyeballs in debt.

For those who are bearish on crypto (in general), it was nice knowing you. For the rest of us that have been squirreling away funds into Bitcoin and other worthy altcoins, I'll see you once we arrive on the moon Mars. There's just far too much liquidity in the financial markets now for any other outcome. It's going to be a wild ride, so buckle up and don't get scared.

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