Bitcoin cleared its 200dma today. Bitcoin had made higher lows and higher highs, reversing the trend in its base which began in March.
This bodes well for bitcoin-related companies we suggested to members in the bottom half of September such as MSTR that is now quite extended.
Bitcoin had been stuck in a base due to various factors including it being more sensitive, ie, more risk on, to higher inflation which would imply less liquidity and geopolitical events such as Iran attacking Israel.
Global liquidity will help. When including private sector liquidity which includes all flows of cash and credit, liquidity has been on the rise.
Bitcoin exchange reserves are also at an all time low.
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