BTC: A New Moment Coming?
Some of you have watched the recent Bitcoin conference. The politicians present made some grand statements, as was expected from them. Notwithstanding, one statement stood out. That statement was from RFK Jr., about buying BTC daily until the US government had four million coins. I think it is time someone informed RFK Jr. that there are only 1,220,050 BTC left. Barring the US government forcibly taking citizens' BTC, they will not have that amount. Perhaps most surprising was the cheers he got. Those present at that occasion should know better. They were busy thinking of their profits rather than the truth. We should all know this - never listen to the politicians. They will sell their mothers if there is a vote for them.
I believe it is well established by now that an area of supply exists. That area is between $68.5k to $72k. Unless BTC breaks the $72k barrier, there is no hope of a drive to higher prices. The bright spot is that the BTC weekly price action shows a cup and handle formation. This formation indicates a coming "Banana zone", meaning a massive price rise to come. We may get a price of $100k quite quickly.
We are still dealing with hypotheticals and not the truth. As for when the $100k price will be, your guess is as good as mine.
