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RE: BTC - Measured move would take us to $17k
This comes at a very very crucial time.
Right at the beginning of November?
Hm, yeah... there is a lot of momentum here.
This comes at a very very crucial time.
Right at the beginning of November?
Hm, yeah... there is a lot of momentum here.
Yep, you have been beating the drum on November for a while now. In fact, if I recall looking at some stats, November is the best performing month for bitcoin returns as well. Though, I will need to verify that.
I posted the chart a few times... it wasn't easy for me to find.
The average return in November is 75.5%, but the information is greatly skewed because 2013 saw gains of 450%. Also, the biggest gains normally occur 6-12 months AFTER the halving event.
However, I think we'll see big Winter gains because Summer was
supposedto be a flat. Everyone thought Bitcoin would have the same pattern of being boring for a year after the bear market was finally over. That didn't happen, and I believe it's due to the impending economic collapse. It was obviously also due to the speculative institutional Bakkt dump and dump but I think that incident was made far more volatile due to economic climate.A Bitcoin halving happens once every 4 years while a recession only happens a third as often. I think the recession is far more bullish than a halving. Just like Bitcoin's first halving, the recession will not be priced in early because the market doesn't know for sure that it's a big deal. In fact, many people are bearish on the recession for Bitcoin. This will cause some really big FOMO as stocks begin to crash but crypto is still going up.
I believe I saw a chart that showed the average return as well as the median return and I think November was still the best or second best month, but again just going off memory.