How Far We've Come
How Far We've Come
Bitcoin Since COVID, Mt. Gox, and Silk Road
Welcome to The Bitcoin Binge Letter!
Bitcoin is up more than 10% since January lows near $33,000. The world’s largest cryptocurrency is now approaching 14 consecutive months above $30,000.
Don’t let volatility fool you—bitcoin is establishing higher lows. $30,000 remains long term support level but it is strengthening support around $38,000.
$38,000 is now the price at which most investors have either bought or sold bitcoin and, as bitcoin hangs around $38k, that means more trading activity will occur there.
After a slight jump to the mid $40,000s following the Russian invasion of Ukraine, bitcoin retraced to current levels and I don’t feel it’s ready to take back $42,000.
Zoom Out 2 Months
Bitcoin is now two months out from January lows near $33,000. Inflation, global conflicts, or governments threatening to ban bitcoin hasn’t deterred investors.
Zoom Out 2 Years
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