#Bitcoin - The most probable scenario. It's been a bull run for a while and it's not "just starting". Many join late so they need to convince themselves they are early. The impatient and tourists left. Break ATH, euphoria comes back, and people join during the pump. #BTCSoarsTo68K
If #BTC continues to follow what it did last cycle (through the lens of monetary policy), then this scenario should at least be on your radar.
The monetary policy view is in stark contrast to the cyclical view of #BTC, where it normally goes up in Q4 of the halving year.
If #BTC does go to the 100W SMA in Nov/Dec, it will likely hit 60% dominance first on a lower high, so there should be a warning sign (kind of like it's hitting 59% right now on a lower high).
If #BTCâ can break the lower high structure in October, then this view is invalidated.
BTC dominance reached a 42 month high as Bitcoin pumped to $68,000.
BTC Dominance can jump to 61% if BTC rallies towards $80k-$90k in the next 30 days.
What does it mean for you?
- Bitcoin can give big rally & outperform Alts for few weeks.
- ALTs will start to outperform once BTC breaks ATH and starts uptrend.
In last cycle, BTC broke $19,500 on 16 Dec, 2020 and BTC dominance made all time high after 18 days on 3rd Jan 2021, and we saw 5 months of mega alts season.
Hold your Altcoins for next 6 months because ALTSEASON is coming đ„
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1ïžâŁBitcoin infrastructure firm Blockstream has raised $210 million in a convertible note financing round.
2ïžâŁPaxos launches stablecoin payment platform with Stripe, enabling global payments for PSPs using $USDC and $PYUSD.
3ïžâŁđșđž A political action committee supporting Donald Trumpâs presidential campaign has successfully raised approximately $7.5 million in crypto donations.
4ïžâŁđșđž Tesla $TSLA makes first Bitcoin transaction in 2 years.
5ïžâŁđșđž Canary Capital seeks approval from SEC for a spot Litecoin ETF
6ïžâŁđșđž Total spot #Bitcoin ETF trading volume breaks $4 BILLION in 48 hours.# #BTCSoarsTo68K