Today we discuss Bitcoin in December
TradingShot Chart via Trading View
Bitcoin Market Health
Charts via Glassnode Studio
The International Business Times reports that the Fed “would be open to collaborating with private business on the creation of a digital currency but emphasized that they were not yet making any commitments.”
90% of the investment world seemingly ignored both gold and Bitcoin. Most people believe in the “Fed system,” for if they didn’t, it would already have failed.
Microstrategy was just the first now investment firms…
Global investment firm Guggenheim Partners filed a note to the SEC Friday saying it would reserve the right to put 10%—up to $500 million—of its Macro Opportunities Fund in Bitcoin via the Grayscale Bitcoin Trust.
World’s biggest money manager Black Rock gave Nod to Bitcoin and oh yeah is shorting the US dollar…
BlackRock Chief Investment Officer for Fixed Income Rick Rieder told CNBC that the currency is “here to stay” and that it was “so much more functional than passing a bar of gold around.”
The world’s biggest money manager is shorting the dollar on expectations that unprecedented fiscal and monetary stimulus will prolong its losses – regardless of who wins the US election.
BlackRock holds a “modest” short in the US dollar against the likes of the Chinese yuan, Indian rupee and Indonesia rupiah, said Neeraj Seth, head of Asian credit in Singapore. “My base case is that we still have at least one- to three years of more moderate dollar weakness on the cards – that’s not going to change, Regardless of the election outcome, some of the policy actions have already happened.”
Keep in mind…
Bakkt consumer app is now live as well, PayPal, Venmo. Look for this to increase adoption, in the coming months.
Bitcoin has broken its all-time high price of $19,783, overcoming its previous record set during the 2017 bull run. Will take many shots at this to get over.
Institutional buyers and Wealthy individuals are causing Bitcoin to rise this time around. Regular retail demographic has not even entered in back to Bitcoin that will happen in 2021.
Research and analysis of the Bitcoin market tells me…
We will set new all time high before the end of December.
I have already hit my projected $17K by the EOY but there is a strong possibility we reach a new all time high of $21,888
New all time high will happen around December 7th-12th 2020. If we hit 21K then will have to move forward with the 57.13% Bitcoin Theory in 2021 and use it as a primer.
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