Terrifying bitcoin fractal
The current price action of bitcoin is eerily similar to that of just days before the march 2020 covid liquidity crisis. This fractal would bring the price of bitcoin down to around $10,000 per bitcoin. However similar the charts may seem let's also mention that the macro economic climate is significantly different than that of march 2020. And although I don't believe this will happen, it would be very irresponsible to not at least consider the possibility. There are a few big catalysts that could play a roll in something similar occurring, most notably would be the CPI reading for tomorrow; If CPI comes in much higher than projected targets this will be bad news bears for bitcoin and crypto in general, but if we get a more modest reading below or at expected inflation levels this would be much less worrisome. Either way expect some volatility in the markets. Good Luck!
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