Bitcoin Bulletin: All aboard the Bitcoin train

Since August bitcoin has gained by 10.6% but we're firmly in the accumulation phase. I'm optimistic, accumulating and supporting adoption.

October 27, 2020

Since the August 14 Bitcoin Bulletin

Accumulation Phase Intact

, bitcoin has gained by 10.6% from $11,770 to $13,019. The data I’m looking at suggests we’re firmly in the accumulation phase with limited signs of market froth. Retail and institutional interest looks contained, which indicates the corporate treasury decisions and potentially High Net Worth’s are moving the needle on the price. PayPal’s decision along with price FOMO will probably pull retail into the rally over the coming quarters. Volatility is always a risk in bitcoin, particularly few new entrants, but I don’t think we’ll see sub-$10K again, which is a decent price floor. To describe my outlook as optimistic is an understatement. It's not just about price projections. It's about the positive impact on a world that’s ravaged by unsound money. I continue to accumulate and support adoption.

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