MQP 16D - BITCOIN TIME TO DO OR DIE
HEADER - This is a supplement for 16A on gold prices.
SUMMARY - Bitcoin has 1 lifeline right now that if it doesn't take, it's 6 feet under.
DETAILS - This is same setting as 16C on oil (13/16) except for DAILY BARS. If bitcoin turns up here, there's 4 waves that can turn BACK TO BACK TO BACK TO BACK, on to new ATH. Meanwhile, not taking the route up means 10K or less. When? By the 4th of July. Why does this matter for gold prices? It doesn't really. I've always wanted to know once gold breaks out and head to 6000, is there enough money in the world for crypto as a whole. AT 64,000 BTC, the entire crypto complex is 2 trillion, now at 41900, so 1.35 trillion. So? Gold is 12.3 trillion at 1950. If gold moves to 4000, and a 25T market cap, is there enough money in the world to bring BTC to 785,500 to match? It's gonna be a cold day in hell, but never say never.
SUMMARY - Bitcoin has 1 lifeline right now that if it doesn't take, it's 6 feet under.
DETAILS - This is same setting as 16C on oil (13/16) except for DAILY BARS. If bitcoin turns up here, there's 4 waves that can turn BACK TO BACK TO BACK TO BACK, on to new ATH. Meanwhile, not taking the route up means 10K or less. When? By the 4th of July. Why does this matter for gold prices? It doesn't really. I've always wanted to know once gold breaks out and head to 6000, is there enough money in the world for crypto as a whole. AT 64,000 BTC, the entire crypto complex is 2 trillion, now at 41900, so 1.35 trillion. So? Gold is 12.3 trillion at 1950. If gold moves to 4000, and a 25T market cap, is there enough money in the world to bring BTC to 785,500 to match? It's gonna be a cold day in hell, but never say never.
Komentar:
BTW - For readers of my gold posts, if I chart a complete chart for OIL (16B) and BITCOIN (16D), like I did for gold (16C), I would forecast 10k for bitcoin in the summer, and even worse in December. Meanwhile, there's ONLY A 2O% CHANCE AT BEST THAT OIL DOESN'T BREAK 150 AND TURN DOWN. Meaning after some sideways around 150, it's gonna get really bad for drivers later this year.
