Bitcoin bull run again? the chart speaks itselfsteemCreated with Sketch.

in #bitcoin9 months ago

BTCUSDT_2023-10-31_21-09-57.png

this chart has been my roadmap for longterm Bitcoin trading since the beginning of 2023.

the weekly supply should be tested in my opinion. the two indicated imbalance zones strengthen this idea too.

fundamentally, important issues for Bitcoin's long run are:

  • Regulatory and governance: though I believe Bitcoin is an so called succeeded act of anarchy and decentralization, still seems governors are playing a big role in people's mindset.
  • Security (of users) since the security of the blockchain itself doesn't seem to be an issue yet
  • Scalability: Bitcoin, comparing to rivals like ADA Cardano, has a limited capacity to process transactions, which depends on the size and frequency of the blocks that are added to the blockchain.

Buy Bitcoin... or Altcoins?
I do both. but once you considered the giant is going sideways after any spikes up, it will be wise to have more of good altcoins.

what Altcoins do I consider good?
here is my list of favs: Cardano ADA - Ethereum ETH - Polygon MATIC - LINKCHAIN LINK

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