$100k is our Q4 target, but it could be reached before the elections.
The U.S. 🇺🇸 elections are just 40 days away (appx 6 weeks).
Reaching $100k from here requires only a 54% increase, which translates to 1.35% daily for 40 days or 9% weekly gains. (Trump BTC Reserve Asset Narrative)
There is a "Strong Possibility" of this happening, as we saw a 64% gain in early 2024 in just 40 days. (ETF Inflow Narrative)
All we need successful bull flag breakout, Be Ready For $100k 🚀
The profitability of Bitcoin investors has improved markedly, with the average investor now holding an unrealized profit of +120% per coin.
The MVRV Ratio allows us to measure this, with values of this magnitude often seen during the early innings of prior bull markets. Around 1126-of-4965 trading days (22.7%) have seen #MVRV record a larger unrealized profit. The air above the market is certainly getting thinner, but it is by no means uncharted.
Within the Ethereum ecosystem, we can delineate three primary sectors: DeFi, GameFi, and Staking. While all three sectors have witnessed capital inflows since the onset of the year, the DeFi and GameFi sectors have predominantly experienced significant capital outflows throughout 2022 and 2023.
However, a notable shift has occurred in the GameFi sector this year, marked by substantial inflows commencing in October, coinciding with the activation of our Altcoin Indicator. In contrast, Staking tokens have maintained consistent positive capital inflows, albeit to a lesser extent in absolute terms.