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Bitcoin Rally Is In The 5th Inning
Summary
The digital asset rally continues with BTC up 94% YTD.
Examining the number of blocks mined since the halving compared to previous cycles tells me we are just past mid-cycle.
RSI tells me to expect a major consolidation period before an expected price peak in September-October 2021.
Bitcoin (BTC-USD) is the black hole that is sucking market capitalization out of every failing store of value in the traditional financial marketplace. Currently, 10-year treasuries yield 1.60%. AAA corporate bonds yield 3.02%. Junk bonds yield 4.41%, which is roughly the rate at which the underlying companies typically default. With M2 expansion reaching 25.80% in 2020, everything will fail to hold value against the currency as governments take value from the currency in circulation by printing to finance deficit spending programs. We have entered the paradigm shift from interest rate based easing to devaluation based easing.
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https://seekingalpha.com/article/4414216...5th-inning
Summary
The digital asset rally continues with BTC up 94% YTD.
Examining the number of blocks mined since the halving compared to previous cycles tells me we are just past mid-cycle.
RSI tells me to expect a major consolidation period before an expected price peak in September-October 2021.
Bitcoin (BTC-USD) is the black hole that is sucking market capitalization out of every failing store of value in the traditional financial marketplace. Currently, 10-year treasuries yield 1.60%. AAA corporate bonds yield 3.02%. Junk bonds yield 4.41%, which is roughly the rate at which the underlying companies typically default. With M2 expansion reaching 25.80% in 2020, everything will fail to hold value against the currency as governments take value from the currency in circulation by printing to finance deficit spending programs. We have entered the paradigm shift from interest rate based easing to devaluation based easing.
...
https://seekingalpha.com/article/4414216...5th-inning
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