The BTC Pullback is Healthy

almost 3 years ago

BTC may have fell approx. 20% from an all-time high of nearly $65k just over a week ago, but that might be just what we needed to get to $100K.

I want to be positive and think the pullback was needed and strengthens the bull case for a continued bull run. I think this market is different than 2017 as we have seen so much adoption through apps, financial institutions and most recently the listing of COIN. In 2017 we saw an 80% collapse from the high. We don't want to continue the boom-and-bust cycles. We want growth and consolidation which leads to a longer bull cycle.

Dan Morehead at Pantera Capital has been right with his projections and I agree with their assessments of the market.

Screen Shot 20210425 at 11.10.04 AM.png

In fact there have been a few TA guys who have called the cycles pretty accurately.

Screen Shot 20210425 at 11.12.29 AM.png

Based on the consolidation around $50K I think we are ready for a good summer!

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almost 3 years ago

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