Road to 1 million has begun for Bitcoin. Here is why:

21 de out. de 2020

Exponential Growth:
To understand bitcoin you need to first understand exponential growth. Here is a simple video for you:
youtu.be/0BSaMH4hINY
However, if you don't have time, here is the summary:
- Exponential growth is counterintuitive
- People don't understand exponential growth
- When exponential growth takes place people usually underestimate how quickly things can change.

Macro:
You also need to understand bitcoin on a macro level and economic perspective. Here is another video for that:
youtu.be/TYCn6oe1RCE
I won't summarize the video because I want you to watch it.

Trend:

• The long term triangle has been broken
  
• The price cycle happens in 4 phases: Accumulation, Markup, Distribution, and Markdown. From the previous bull run, the three phases: the distribution, markdown, and accumulation took place in more than 700 days. One thing I noticed from the chart is that for parabolic growth:
  
  Distribution + Markdown + Accumulation = Markup
  
  
• In short, if the three prior phases take 700 days, the bull run will continue for 700 days. I don't know if there is a theory in a textbook for such a thing. Lemme know if there is one.
  
  
• Long term MACD crossover is taking place.
  

To conclude, don't look at Bitcoin as your average SPY chart. It's something very different. If you are a bear and believe that another market crash is looming; so, if the market drops, BTC will follow along. Remember this, Bitcoin isn't conventional. Whatever is happening is of a magnitude beyond our conventional way of thinking.