BlackRock 2013 BTC-HASHRATE DIVERSION CASE OCT 2023

I wish there was more data prior to 2012 to data mine but sadly there is not much.

But the data we do have is the Hash rate of Bitcoin and BBW.

• 1. Bitcoin price follows rapid moves in Hash Rate throughout history without fail, think of Bitcoin like the country and the hash rate is the population. Population > growth > adoption > limited space will equate to price discovery
  
• 2. Bollinger bands width (measures consolidation) in both account have gone to extreme tightness meaning the forces buying Spot Bitcoin is outweighing sellers by a large amount.
  
• 3. Taking a market standard 50,100,200d SMA you can clearly see the similarities between 2023 and 2013 is pretty unique.
  
• 4. The Hash rate is by institutions funding miners to increase capacity and diluting outstanding shares. When BBW falls and Hash rate rises equates to growth outpacing supply.
  
• 5. We only have so much data as Bitcoin is that new of an asset but if 2013 was retail driven by Millions, 2023 will be institutional driven by Trillions. Funny enough the breakout point lines up with Spot ETF decision dates (month/month).
  
• 6. Blackrock by definition is the Black Pearl - Captain Jack Sparrow likes, Captain Jack Sparrow takes.
  the Black Pearl is said to be "nigh uncatchable"
  

Still very impressed BlackRock has achieved this accumulation during the entire bear market while people lose interest in Bitcoin and they accumulate every sell order making the market seem flat / inactive.