The current accumulation phase appears to be finishing soon, from February 21st --> March 21st today.
Previous phase was January 8th --> February 8th, after which the price was catapulted $16k upward from $42k to $58k after the ATH retest.
Institutions have entered bitcoin in full force the last months, from MicroStrategy and Tesla to more recent Square,
with institutions now holding 1,353,944 bitcoin in total. (A list of treasuries at bitcointreasuries org).
Considering the expansion of the fiat supply and the accompanying stimulus checks combined with incoming institutions, large OTC purchases from last few weeks,
coupled with record low amounts of bitcoin on exchanges and VISA's plans for enabling bitcoin payments at 70 million merchants,
next week looks like a good chance for a spring of green candles and powerful rocketry.
If bitcoin repeats another $16k rocket burst from $62k, that would reach about $78k.
The next big target is $86k; the doubling of the previous bottom at $43k.
Previous phase was January 8th --> February 8th, after which the price was catapulted $16k upward from $42k to $58k after the ATH retest.
Institutions have entered bitcoin in full force the last months, from MicroStrategy and Tesla to more recent Square,
with institutions now holding 1,353,944 bitcoin in total. (A list of treasuries at bitcointreasuries org).
Considering the expansion of the fiat supply and the accompanying stimulus checks combined with incoming institutions, large OTC purchases from last few weeks,
coupled with record low amounts of bitcoin on exchanges and VISA's plans for enabling bitcoin payments at 70 million merchants,
next week looks like a good chance for a spring of green candles and powerful rocketry.
If bitcoin repeats another $16k rocket burst from $62k, that would reach about $78k.
The next big target is $86k; the doubling of the previous bottom at $43k.