$BTC

Bitcoin had a sharp drop after touching 102k. It has been ranging between 102k and 108k in the past two months. This movement is due to broader macro economic factors such as yield rally, inflation data and labor market data which signals that QE is still not here yet.

Timing wise, Bitcoin had a similar move last cycle where it had a decent correction in January of the post halving year. The good news is that it will go much higher in the next few months. We are probably at the local top, but nowhere near the cycle top.

Let’s hold tight and enjoy the roller coaster ride. Diamond hands always win.