What is preventing BTC from a parabolic rise?
Let's analyze some factors that are hindering this achievement.
First, we have to talk about the global geopolitical scenario. Yes, the world is in chaos. There is a conflict on every continent, whether internal (local problems) or external (between other countries). This brings insecurity in the economic sense, because legal and vital security are essential for an individual to be able to live fully. Therefore, the feeling in the world today is one of insecurity, a fact proven by the massive sales of large investors (increasing cash) in addition to a considerable rise in Gold.
Second, we have the economic issue itself, where most countries are experiencing difficulties in relation to their basic interest rates, and only this month, after a long period of high rates, the US made cuts in an attempt to save the economy. This is a fact that most people are in debt, do not have or do not have the prospect of allocating their assets to risky assets, reducing retail demand for BTC. Thirdly, we have the Bet's risk. Yes, both sports betting and online casinos are draining a good part of the speculative capital that could be allocated to Crypto. We are talking about billions of dollars made available in an attempt to make astronomical gains in betting houses.
Fourthly, and no less important, in fact, the crucial factor for BTC's lateralization should be the fact that we are not yet in the complete Halving event. The reward cut occurred in April of this year and historically, only after 6 months does there appear to be an increase in the price of BTC due to the Supply/Demand shock. Although the Asset reached its historical peak before the Halving, due to Spot ETFs, the chronology shows that we are close to the bullish phase given indications, in the monthly and annual charts, of a clear accumulation zone above 50k forming a support in the asset.
