Bitcoin Bulletin

Bitcoin Bulletin: Accumulation phase intact

August 18, 2020

I've identified you as one of the people with bitcoin/crypto interest in my mailing list. I'm going to send periodic updates of the info I've been researching or reading on these topics. Looking forward to your feedback. 

The recent gold all-time highs supports the store of value theme, which further increases my confidence for bitcoin’s price prospects over the coming quarters. Technical analysis suggests that the price rise above $10,000 is an important development for bitcoin, but the price remains well below all-time highs, which would be the final confirmation of the bull-market. Despite these supportive developments, broader interest in bitcoin (according to Google Trends data) is contained relative to history, which suggests that the accumulation phase remains intact. MicroStrategy’s bitcoin purchase, Emerging Market attention and growing traditional financial market participation are three potential triggers for the next phase. I advise readers to front-load decision-making efforts before the speculative phase gets underway because it will likely be wild and disorientating.

Full report here: 

Highlights

  1. Rediscovering store of value

  2. Accumulation phase intact

  3. Dangerous to delay until speculative phase

  4. EMs could signal next phase of bull-market

  5. Commercial traders increase open interest 400%

  6. MicroStrategy confirms financialisation trend

  7. Technical analysis supportive

  8. Price ranges (not forecasts)

Important to reiterate that this report is for informational purposes. It doesn’t detail the economic, social and ethical imperative for the trend towards bitcoin, nor does it serve as investment advice.