Trees do not grow to the sky – even cryptocurrency trees with Bitcoin leaves.

The old adage describes a core rule of the physics of price momentum. Whether buying or selling, traders and investors eventually exhaust themselves – whether existing resources are too low to maintain buying pressure or motivated sellers finally run out of inventory to dump on the market.

In the case of Bitcoin’s current run-up, exhaustion happened right at the $12K level. More specifically, as soon as Bitcoin (BTC/USD) broke above and then dipped below that psychologically important level, a wave of sellers jumped in likely afraid the run came to a sudden end on a false $12K breakout. I imagine the price action triggered stops below the $12K level.

The Google Trend Momentum Check (GTMC) suggests that the Bitcoin breakout is not yet over even in the short-term (I am getting more and more comfortable using GTMC as a trading signal). Neither the $10K breakout nor the subsequent run-up attracted a significant spike in search interest in “Bitcoin.” The jump in interest on July 27th and 28th paled in comparison even to the jump on May 11th when Bitcoin experienced a sharp and brief pull back.

So for now, I am sticking with the trading strategy I discussed in my last Bitcoin post equating Bitcoin to an anti-dollar trade. I am chasing momentum higher so I am buying pullbacks in the middle of the run-up (note this strategy is exactly opposite the strategy I followed when Bitcoin crashed along with financial markets in March). Even though the current pause looks like a refresher before the next leg higher, I did not buy the current pullback: prices are right around levels of the last pullback where I added to my position.

I am also eyeing the U.S. dollar index (DXY) which looks set up for a relief rally. The U.S. dollar suffered tremendous and persistent selling pressure through most of July. A small rebound similar to the one in the second half of June is very possible.

I am not expecting Bitcoin to pull back much in the face of a relief rally for the U.S. dollar index. Bitcoin slowly drifted downward during June’s dollar rebound. Even if a sharp pullback happens, I will remain patient through the move. The downward trend in the dollar is just beginning given the massive amount of devaluation happening between the Federal Reserve and the U.S. government’s largesse in response to the economic emergencies driven by the coronavirus (COVID-19) pandemic.

Be careful out there!

Full disclosure: long BTC/USD, long and short various U.S. dollar currency pairs

After putting its cryptocurrency trusts on a pause for new investors, the leading cryptocurrency fund management company Grayscale Investments has once again opened a large number of its cryptocurrency trusts for its new clients. New investors now, once again, can make investments into crypto trusts of Grayscale and can gain exposure to digital currencies.

Later in the month of December, the crypto fund manager Grayscale closed the doors of its crypto trusts for new customers or investors including the firm’s Bitcoin Trust (GBTC) which is by far the largest trust fund of the company. Only new investors were not allowed to access these trusts during this periodic pause. This pause was not meant for the other existing clients who still had access to all of the trusts of the firm. They continued to purchase shares in these trusts during this time period.

As far as the new investors are concerned, it was a temporary pause for them as well. The firm now has once again opened the doors of a large number of its crypto trust funds for new clients. They are now allowed to make investments and purchase shares in trusts in a bid to build exposure to digital currencies.

Reportedly, the company has resumed access to its Grayscale Digital Large Cap Fund Trust and the Bitcoin trust fund for customers. The company’s second-largest trust fund Grayscale Ethereum Trust has not been opened so far for new investors. As of now, it is not accessible to new clients. While on the other hand, the company’s XRP trust fund is also not available for users as it is not active. The XRP trust might remain unavailable for users as the fourth-ranked crypto belongs to the San Francisco-based blockchain payments giant Ripple which is currently in a legal fight with the United States Securities and Exchange Commission (SEC).

Grayscale usually puts pauses periodically on its trust funds for new investors and then opens them again after a certain period of time. The company’s trust funds are a great way for the United States customers to gain exposure to cryptocurrencies, including the leading digital currency Bitcoin and many others.

TrumpCoin (CURRENCY:TRUMP) traded 5.9% lower against the U.S. dollar during the 1 day period ending at 8:00 AM ET on December 29th. TrumpCoin has a total market capitalization of $58,626.97 and $3.00 worth of TrumpCoin was traded on exchanges in the last 24 hours. During the last seven days, TrumpCoin has traded up 27.8% against the U.S. dollar. One TrumpCoin coin can currently be bought for $0.0089 or 0.00000033 BTC on major exchanges including YoBit, Livecoin, Cryptopia and Trade Satoshi.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

TrumpCoin Profile

Buying and Selling TrumpCoin

TrumpCoin can be traded on these cryptocurrency exchanges: Livecoin, Trade Satoshi, YoBit and Cryptopia. It is usually not presently possible to purchase alternative cryptocurrencies such as TrumpCoin directly using US dollars. Investors seeking to trade TrumpCoin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase TrumpCoin using one of the aforementioned exchanges.

Unify (CURRENCY:UNIFY) traded up 72.9% against the U.S. dollar during the twenty-four hour period ending at 20:00 PM E.T. on December 30th. Unify has a total market capitalization of $52,011.18 and approximately $8,897.00 worth of Unify was traded on exchanges in the last 24 hours. During the last week, Unify has traded 106.3% higher against the U.S. dollar. One Unify coin can now be bought for about $0.0029 or 0.00000010 BTC on exchanges including Mercatox, Cryptopia, CryptoBridge and YoBit.

Here is how other cryptocurrencies have performed during the last 24 hours:

About Unify

Unify Coin Trading

Unify can be purchased on these cryptocurrency exchanges: Cryptopia, CryptoBridge, CoinExchange, Mercatox and YoBit. It is usually not presently possible to buy alternative cryptocurrencies such as Unify directly using U.S. dollars. Investors seeking to trade Unify should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Unify using one of the exchanges listed above.

New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.”

According to an official statement published in the NZ Herald, New Zealand’s financial watchdog is concerned about the latest “rollercoaster move” seen in the bitcoin (BTC) price. “Cryptocurrencies are not regulated in New Zealand and are often exploited by scammers and hackers,” said an FMA spokesman.

But the regulator’s warning is not the only one seen over the last few days. In fact, the FMA quoted its U.K. counterpart, the Financial Conduct Authority (FCA), as saying:

The FMA shares the FCA’s concerns that some crypto exchanges are promising high returns and customers should be prepared to lose all of their money.

The advisory includes a warning on unregulated overseas crypto exchanges. Per the FMA spokesman, exchanges with no connection to New Zealand make it “hard to find out who is offering, exchanging, buying or selling” cryptos.

The watchdog issued a reminder when dealing with a crypto exchange, stating:

You should also check if the exchange holds your New Zealand dollars in a trust account.

The FMA said that locals need to make sure if the exchange is registered in the Financial Service Providers Register (FSPR). That’s a requirement to access a “dispute resolution scheme,” it added.

NZ Herald’s article also references Cryptopia’s heist — a Christchurch-based crypto exchange that suffered a major hack in January 2019. That year, the Cryptopia team estimated they lost almost 9.5% of their total holdings, and the article noted that “crypto deposits are not guaranteed.”

What do you think about the FMA’s crypto warning? Let us know in the comments section below.

New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.”

According to an official statement published in the NZ Herald, New Zealand’s financial watchdog is concerned about the latest “rollercoaster move” seen in the bitcoin (BTC) price. “Cryptocurrencies are not regulated in New Zealand and are often exploited by scammers and hackers,” said an FMA spokesman.

But the regulator’s warning is not the only one seen over the last few days. In fact, the FMA quoted its U.K. counterpart, the Financial Conduct Authority (FCA), as saying:

The FMA shares the FCA’s concerns that some crypto exchanges are promising high returns and customers should be prepared to lose all of their money.

The advisory includes a warning on unregulated overseas crypto exchanges. Per the FMA spokesman, exchanges with no connection to New Zealand make it “hard to find out who is offering, exchanging, buying or selling” cryptos.

The watchdog issued a reminder when dealing with a crypto exchange, stating:

You should also check if the exchange holds your New Zealand dollars in a trust account.

The FMA said that locals need to make sure if the exchange is registered in the Financial Service Providers Register (FSPR). That’s a requirement to access a “dispute resolution scheme,” it added.

NZ Herald’s article also references Cryptopia’s heist — a Christchurch-based crypto exchange that suffered a major hack in January 2019. That year, the Cryptopia team estimated they lost almost 9.5% of their total holdings, and the article noted that “crypto deposits are not guaranteed.”

What do you think about the FMA’s crypto warning? Let us know in the comments section below.

Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

SIRIN LABS Token (CURRENCY:SRN) traded down 6.2% against the dollar during the twenty-four hour period ending at 10:00 AM E.T. on December 30th. During the last seven days, SIRIN LABS Token has traded 19.4% higher against the dollar. One SIRIN LABS Token token can now be purchased for approximately $0.0248 or 0.00000088 BTC on popular cryptocurrency exchanges including IDEX, LATOKEN, Bittrex and Cryptopia. SIRIN LABS Token has a total market capitalization of $12.19 million and $3.85 million worth of SIRIN LABS Token was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed during the last day:

About SIRIN LABS Token

SIRIN LABS Token Token Trading

SIRIN LABS Token can be traded on these cryptocurrency exchanges: Bittrex, Kucoin, CoinExchange, Upbit, Huobi, Allbit, Liqui, LATOKEN, IDEX, Tidex, Cryptopia, HitBTC, YoBit and Bancor Network. It is usually not presently possible to buy alternative cryptocurrencies such as SIRIN LABS Token directly using US dollars. Investors seeking to trade SIRIN LABS Token should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy SIRIN LABS Token using one of the exchanges listed above.

SkinCoin (CURRENCY:SKIN) traded 62.1% higher against the U.S. dollar during the one day period ending at 23:00 PM E.T. on January 7th. SkinCoin has a market cap of $95,724.32 and $8,383.00 worth of SkinCoin was traded on exchanges in the last 24 hours. During the last week, SkinCoin has traded 37.2% higher against the U.S. dollar. One SkinCoin token can currently be bought for approximately $0.0011 or 0.00000003 BTC on popular exchanges including Cryptopia, HitBTC and Mercatox.

Here’s how related cryptocurrencies have performed during the last 24 hours:

SkinCoin Token Profile

Buying and Selling SkinCoin

SkinCoin can be bought or sold on the following cryptocurrency exchanges: HitBTC, Mercatox and Cryptopia. It is usually not possible to purchase alternative cryptocurrencies such as SkinCoin directly using US dollars. Investors seeking to trade SkinCoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase SkinCoin using one of the exchanges listed above.

Digital asset investment manager Grayscale has resumed accepting new investments into almost all of its cryptocurrency trusts. The investment manager had paused new inflows into six of its trusts in late December 2020, just as the six-month lock-up period for selling recently-purchased shares in its Bitcoin Trust, which trades under the ticker GBTC, was winding up.

Grayscale periodically halts and resumes new investor inflows into its funds; during these periods of closure, the funds remain open for private placement funds. As well as this, all investors in the Grayscale crypto trusts are subject to a six-month lock-up period for newly-purchased shares, after which they are free to sell the shares on the open market to non-accredited investors.

Bitcoin is up close to 10% on the week, trading at $35,833 as of press time. With new investments now open, the six-month lock-up period begins afresh. Some analysts have alleged that when this period draws to a close, the Bitcoin spot market is driven higher as shares in Grayscale's GBTC hit the open market.

Bitcoin has, from the beginning of this week, made a remarkable recovery from the recent 20% downswing to $27,735. The bellwether cryptocurrency teeters at $33,884 amid the struggle to resume the uptrend owing to the overhead pressure at $34,000.

All ardent Bitcoin and cryptocurrency enthusiasts are aware of the talk regarding institutional investors adopting Bitcoin. Some believe that these high-volume investors' buying pressure is contributing massively to the rally that saw BTC hit a new all-time of $34,810.

ETH/USD marks its first intraday losses in four while declining to $1,080 during early Wednesday. The ethereum buyers seem to have lacked upside momentum following their run-up to the highest since late January 2018 during Monday. Since then, the quote has been marking a lower high formation amid overbought RSI, which in turn favor sellers.

However, 5-day SMA and February 2018 top, respectively near $995 and $983, will follow the $1,000 threshold to challenge the bears’ entry.

After an initial significant 33% rally that started on January 3, Stellar hasn’t paused and has seen another 40% breakout hitting $0.21. After a lot of bullish momentum, the digital asset might be on the verge of a correction, suggests various indicators.

On the 2-hour and 9-hour charts, the TD Sequential indicator has presented a green ‘8’ candle which is usually followed by a sell signal which will be posted within the next hour. Confirmation of both signals would shift the odds in favor of the bears in the short-term. 

Bitcoin’s rapid rise to $42,000 and its $10,500 correction has got many worried that the Bitcoin bull run is over, that what we’ve just seen is a prelude to a larger correction down to $20,000 or below. While we can certainly say that Bitcoin grew too fast too soon towards the back end of last year, there are striking similarities between what happened the last time Bitcoin broke through its all-time high in 2017 in the lead up to that bull run and what we have seen in recent weeks that suggest the exact opposite is going to happen.

Anyone looking at the Bitcoin weekly chart since September is right to think that Bitcoin is overextended, or certainly was until the recent correction. However, thinking that it will drop back to where the run started back in September ignores where we are in the market cycle. If this was the end of the bull run then you could certainly argue that case, but this is just the beginning, and if we look back to this stage of the last bull market we can see some striking parallels.

First, let’s take a look at what happened when Bitcoin broke its prior high in 2017:

As we can see, iBitcoin breached its previous high of $1,180 in April and went on to hit $2,980 the month after, representing a quickfire 150% increase. Following this jump it corrected back down to $2,120, a 28% drop.

Fast forward to 2020/21 and what do we see:

Bitcoin crossed its previous high of $20,000 on December 16 and famously raced to $42,000 within three weeks, a 110% gain. This is 40% short of the 2017 gain, but with Bitcoin being a much pricier asset this is to be expected. And what have we seen since? A pullback to $30,280, representing a 28% correction – exactly the same as we saw after the 2017 rise. The parallel is striking, right down to the two pauses along the way in both instances.

Now let’s remind ourselves what happened in 2017 after that first pullback. Bitcoin saw a fakout and a further dump to $1,840 which prompted Forbes to ask “Is This The Bottom?” Indeed it was, as Bitcoin went on a tear during the final part of its bull run, putting on 90% in five months to hit all time highs in December:

Taking a birds-eye view of the Bitcoin chart we can see exactly how the two scenarios compare:

We can clearly see that the recent pullback is happening right at the start of the cycle, meaning that, unless Bitcoin is going to break with history and the concept of market cycles, the idea that Bitcoin is going to retrace its entire four-month move is about as likely as XRP not being a security.

After a few days of sideways trading, BTC has returned to its Q4 2020 bull run and painted a fresh all-time high above $28,500. The cryptocurrency gained more than $2,700 from yesterday’s lows. Most alternative coins have failed to follow and bitcoin’s dominance over the market has returned to over 70%.

Following the previous all-time high marked during the Christmas Holidays at $28,300, BTC started retracing and even dipped beneath $26,000 on a few occasions.

While the community was wondering and speculating if the late 2020 rally has been paused, the primary cryptocurrency decided to act again in the past 24 hours.

BTC firstly overcame the $27,000 mark before doing the same with the $28,000 price tag. Another leg up resulted in a pump to its latest all-time high of $28,570 (on Bitstamp).

Despite retracing slightly since then, bitcoin is still very close to $28,500 as of writing these lines.

The analytics company Santiment suggested that such a development could be possible because of the rising number of daily active addresses. The firm, which has described this metric as crucial for BTC’s price, outlined that the active addresses have continued hovering around the weekly high, while “on-chain transaction volume has shown some encouragingly high spikes.”

Most alternative coins have failed to mimic BTC’s gains yet, despite some minor increases. Ethereum is up by 4% to above $735. Bitcoin Cash (4%) and Litecoin (3%) have risen to $355 and $130, respectively.

Polkadot is the most impressive gainer with an 11% surge. As a result, DOT trades north of $7.

Nevertheless, Ripple continues with its adverse price developments and struggles to stay above $0.20. Chainlink has also lost some value and trades at $11.6.

Some lower- and mid-cap altcoins, such as Kusama (9%), Aave (6%), NEAR Protocol (6%), FTX Token (6%), and Compound (6%) have also increased on a 24-hour scale.

However, their gains were not enough for the altcoins to protect their market share. Consequently, bitcoin’s dominance has surged to 70.5% after a few days under the 70% mark.

Article source

The total cryptocurrency market capitalization is back above the $1 trillion level as Bitcoin (BTC) bulls pushed the price back to $40,000 on Jan. 14.

Establishing $40,000 as support is an important psychological level and a key support that traders are watching. If traders are able to flip the level to support, then extension toward $45,000 is the line of thinking followed by many traders.

While the previous rally above $40,000 was driven in part by a flurry of buying from retail investors, Guy Hirsch, the managing director for eToro’s U.S. wing sees institutions as the driving force behind the current rally. According to Hirsch, it “wouldn’t be a surprise to see a new all-time high during or even before this coming weekend.”

In private comments to Cointelegraph, Hirsch said:

While Bitcoin’s recent price volatility has given some of the newer institutional investors a cause for a pause, the more seasoned of the financial powerhouses bought the dip from the weak hands, taking full advantage of the sharp downturn.

Noticeably, it’s not just BTC that is receiving institutional attention as the current market cycle progresses. Denis Vinokourov, head of research at Bequant, sees the growing trend as a positive development for the entire cryptocurrency ecosystem.

Vinokourov said:

As reported by Cointelegraph, since BTC’s drop on Jan. 11 some of the more prominent figures in the space have been more bullish than ever and are likewise calling for Bitcoin to reach a new all-time high in the near future.

Decentrader founder filbfilb said, “The immediate future for the top cryptocurrency is “50/50 as to what happens at this point.” A move above $40,000 will establish a new support level at which point “retest of the all-time high is very likely.”

In a private conversation with Cointelegraph the analyst stated:

Regardless of what happens, the analyst sees $40,000 as a “key pivot point which will dictate the next couple of weeks.”

Altcoins are also seeing positive price action for a third day in a row. Ether (ETH) rose by 9% to $1,245 and Polkadot (DOT) found additional momentum as it rallied 33% to a new high at $14.92.

The overall cryptocurrency market cap now stands at $1.04 trillion and Bitcoin’s dominance rate is 69.1%.

TrueUSD (CURRENCY:TUSD) traded 0% lower against the U.S. dollar during the 1 day period ending at 22:00 PM E.T. on January 6th. Over the last week, TrueUSD has traded up 0% against the U.S. dollar. One TrueUSD token can currently be purchased for $1.00 or 0.00002697 BTC on major exchanges including CoinTiger, OpenLedger DEX, IDEX and Koinex. TrueUSD has a market cap of $274.96 million and approximately $152.82 million worth of TrueUSD was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed over the last 24 hours:

TrueUSD Token Profile

TrueUSD’s launch date was March 31st, 2018. TrueUSD’s total supply is 275,031,537 tokens. TrueUSD’s official website is www.trusttoken.com. TrueUSD’s official Twitter account is @TrustToken.

Buying and Selling TrueUSD

TrueUSD can be bought or sold on these cryptocurrency exchanges: Upbit, OpenLedger DEX, HBUS, Cryptopia, HitBTC, IDEX, Kyber Network, Kuna, Koinex, Bitso, Zebpay, Binance, Crex24, CoinTiger, Bittrex and WazirX. It is usually not presently possible to buy alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to acquire TrueUSD should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy TrueUSD using one of the aforementioned exchanges.

Bitcoin is strongly correlated to the DXY, and should be able to offer us insights for the next several legs of the cycle.

Bitcoin macro cycles have coincided with the dollar for longer than most of us have paid attention to it.

To follow the macro Bitcoin cycles, one must follow the DXY.

The DXY is at a critical point, and I believe, doomed to go lower.

I begin with an admission that the short DXY trade is very crowded. Sometimes, the crowd can be right for a long time. I believe this is one of those times. Any upside on the DXY should be squeezes, not trends.

When speculators longed the DXY in 2014, it took three years to unwind.

Sometimes it doesn’t take a genius to see the obvious. All fiat currencies are being pressured by those in control.

The United States has one single bipartisan issue: spending money is better than not spending money. But they don’t need to be bipartisan now. The executive and both legislative houses agree, spending is required. We will do what is necessary.

Before Covid meant anything to anyone, the Trump administration pumped an already hot market with more tax breaks. I believe this weakened the United States’ fiscal capacity, for when it was needed. Unfortunately, it became needed thanks to Covid.

Americans received one stimulus in the spring for $1200 each. Furthermore debts of many kinds were put on hold, businesses received loans, bailouts came galore, and we generally went “brrrrr”. Fiscal and monetary measures were all undertaken.

Recently, after months of nothing, Americans got a second stimulus of $600 each, with little regard to who needed it. This will shortly be rounded to $2,000, with trillions of additional stimulus on top to come from an unencumbered Biden administration.

A second round of more targeted PPP is being rolled out now, offering businesses relief if they can prove lost revenue in 2020.

More importantly, the Biden administration will no doubt unveil a legislative whirlwind, now that senate control is secured. The significance of taking both Georgia senate seats cannot be understated, in terms of legistlative agenda.

Had the Republicans maintained the senate, they suddenly would’ve rediscovered their fiscal conservatism — a conservatism they never had in control themselves. Such need for compromise is now unnecessary and the legislative steamroller is coming in.

In America, I’ll be on the lookout for several things:

And maybe more. The next year or two could be jam packed. And it will be expensive. Even if taxes are increased on the rich and high income earners, I have little doubt we’ll add significantly to overall deficits.

Modern Monetary Theory is making mainstream inroads and even the rumor of MMT advocates being heard will have dollar ramifications.

Additionally, rates are stuck. There’s nothing the fed can do. They won’t go negative and they can’t afford to go up. Yield curve control? Probably.

The dollar may stay relatively strong versus other currencies. Most other countries are implementing similar policies — fiscal and monetary.

I’m not trying to make arguments for or against any of this. I certainly have opinions. But on Narrative Street, it offers a powerful backdrop for DXY bears, and “hard asset” bulls.

The DXY is oversold. Down 10% from the post-March-mayhem consolidation, a lot of the move has occurred. But it’s also on the precipice of a whole new move. The DXY is currently testing the early 2018 lows and trying to recover against fast moving averages (20 day shown).

A reversal to 92-93 is possible, and should be faded. The market has already been pricing in much of the fiscal situation.

Has the market priced in what can occur to further the trend under a united legislative agenda? I am not so sure it has. Going back to include the Global Financial Crisis, the next clear level is a target of 80, with a pitstop at 86. The 2018 support looks like a blip.

The vertical lines of December 2016, January 2018, and March 2020 should be familiar dates to Bitcoiners.

They align perfectly with recent Bitcoin macro cycles. If you pay closer attention to shorter term cycles, you’ll see similar strong negative correlations.

As the DXY recently bottomed, it not-so-coincidentally aligned with a pause in Bitcoin’s recent rampage. Bitcoin may continue to range while the DXY convinces itself it’s okay to continue puking. I suspect that once it realizes its destiny, we’ll see Bitcoin move higher — much higher — as the DXY trips down to 86.

There we have a lot of congestion from the 20018-2014 broad range, and also the 200 month moving average, which perfectly marked the prior lows.

I imagine with the DXY at 86, this is where Bitcoin will pause next. It may be $60-80k by the time that happens.

And for the big trip to 80? I believe that’s where this Bitcoin macro cycle will have a steadier halt. After all, these things rarely happen overnight. The correlation isn’t always perfect, but for the important moments it’s close to it. The monthly correlation is -.82 (see featured image) and the weekly is -.87. We can watch it week to week or tick by tick.

I believe Bitcoin is on a course for being six digits this cycle. I am of the mind it may take two years instead of one. But either way, watch the DXY for hints of Bitcoin’s potential, and for its areas to consider taking profit.