Hey team,
After speaking about the Bitcoin daily price action around the 60K zone earlier in the week, price has continued to hold steady around its all time highs.
But I wanted to take a step back higher again, to the Bitcoin monthly chart.
Take a deep breath and then take a look at the chart below:
BTC/USD Monthly:
Yikes!
After a few LeoFinance community members were speaking about this one earlier on Discord, the image of it has been burned into the back of my eyes and I had to share my own thoughts on the blog.
First of all it looks ridiculous, doesn't it?
It has a hint of tulip mania about it, if you'll allow me to go full blown cliche on us here.
But I honestly do believe that this time is different.
Haha, I'm sorry because yes I know how that sounds as I'm reading it back, but I really do.
When before have we seen a complete and total lack of confidence in fiat currencies by the worlds richest?
Not only are some of the biggest companies shifting their balance sheets from USD to BTC, but Banks such as Morgan Stanley are now allowing high net worth individual clients access to Bitcoin like never before.
This time is different.
What do you think when you see the Bitcoin monthly chart?
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
Daily market analysis.