The Price of Bitcoin Remains Flat in an Increasingly Thin Range. The Longer This Goes On, the Stronger the Impulse Will Be at the Breakout.
The big question is in which direction will the exit from the range take place?
On March 17, 2023, Balaji Srinivasan bet $2 million that Bitcoin would be worth $1M or more within 90 days. That brings us to June 15, 2023.
Today is April 9, 2023.
The price of Bitcoin has been moving sideways in a range between $26.8K and $28.5K for several days now, and the bet that Bitcoin will be worth $1M by June 15, 2023, seems more likely than ever to be lost.
Anyway, I've already explained why I don't think you'd like to see the price of Bitcoin reach $1M so quickly. The consequences would be devastating for hundreds of millions of people.
Better a gradual hyperbitcoinization of the world, rather than a dramatic event that would not allow more people to come and buy Bitcoin to prepare for the world after the collapse of the current monetary and financial system.
That being said, let's look at the evolution of the Bitcoin price over a 4H timeframe:
Keep reading with a 7-day free trial
Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.