The Bottom Before The Run: Why We're Going To $250,000 Bitcoin

Bitcoin Mutual Funds, Powell acknowledges that inflation may be higher than expected, and more in this edition of Roundup on Bitcoin. Roundup in Bitcoin is a series that discusses the events of the past week in the Bitcoin industry, covering all the important news and analysis. After the summary broke past $40,000 on Monday, a bull run seemed almost certain this week; But the fun didn't last long before Bitcoin's surge began to fade. It's been a quiet week in terms of news, and aside from the regular release of MicroStrategy and El Salvador, there was little to convince the market that it was time to go bullish. But as we've seen over the last decade, there's always room for optimism. Highlights Report: Global Mutual Funds Hold More than $43 Billion in Bitcoin Powell Admits Inflation May Be Higher Than Expected, Calls Bitcoin The chart above of the week is based on my previous piece analyzing bitcoin's performance over each of its last 3 half-lives. The blue dotted line represents bitcoin's performance as it follows the exact trend of the last bitcoin halving period, while the orange line represents bitcoin's actual performance since its last halving in May 2020. Clear as daylight, it's clear that bitcoin is prime for a breakout in the months ahead, which should follow the same trajectory. If Bitcoin does indeed follow this path, it will likely peak in mid-October – or perhaps in November when Taproot is activated – at a price of between $200,000 and $400,000 per bitcoin. The interesting thing is that bitcoin has so far outperformed the previous half, but has recently had lower gains than before, but is still poised for a good bull run. from

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