Blockchain

Edward Farina, the founder and CEO of various crypto-focused initiatives, is confident that XRP is a better “investment” in early October than it was before July when the United States Securities and Exchange Commission (SEC) claimed that the coin was an unregistered security.

In a post on October 9, Farina asserted that the coin was declared not a “security,” but was bothered by the fact that prices are at “the same level” as before the July 13 ruling. 

XRP Bears Reversed July 2023 Gains

XRP, the native coin of the XRP Ledger, a decentralized blockchain that recently supported smart contracts, remains one of the most liquid crypto assets. Looking at price data from CoinMarketCap (CMC), the coin is lodged at fifth in the market cap leaderboard, trailing Bitcoin (BTC), Ethereum (ETH), BNB, and USDT–the stablecoin.

At this level, the coin is one of the most liquid and has managed to shake off bear pressure since the SEC lodged a lawsuit against some of Ripple’s top brass, including Brad Garlinghouse. In the lawsuit filed in late 2020, the agency said Ripple conducted an illegal crowdfund, raising over $1 billion by selling unregistered securities. With the allegations, XRP prices fell by 78%, crashing from around $0.77 to $0.17 in days.

XRP found reprieve in 2021 when it shook off losses, rallying to as high as $1.95 despite the ongoing lawsuit where Ripple lawyers defended the company against claims put forward by the regulator. Prices fell in 2022, reversing gains before stabilizing in the better half 2023. 

In July, XRP prices rose sharply, briefly reaching $0.92 before cooling off, peeling back all gains in mid-August. Prices have stabilized, but bears wiped gains from the rally induced on July 13 when a United States court ruled that XRP is not a security when sold to the general public on an exchange. Still, it is when sold to institutional investors. 

In early October 2023, Judge Analisa Torres barred the SEC from appealing the decision made in July, stating that there was no “substantial ground for difference of opinion.” The trial is not set for April 2024.

Prices Make Zero Sense?

Following the Judge’s decision barring the agency from appealing, XRP prices have been relatively firm but at pre-July 2023 levels. Farina believes that XRP ought to be higher at spot rates, a reason why the market “makes absolute zero sense and price manipulation is real.” 

Whether XRP prices are manipulated or not is not clear at spot rates. However, the broader crypto market, including Bitcoin and Ethereum, is suppressed, having cooled off from July 2023 highs.

Last week marked a noteworthy surge for Solana in inflows, leading the pack in altcoin investment interests and outshining Bitcoin. Solana’s recent performance particularly placed it in the spotlight as it amassed roughly $24 million, the altcoin registered its largest inflow since March 2022, according to a recent report from Coinshares.

A Closer Look: Dissecting The Solana Inflow Surge

Diving into the numbers, the broader digital-asset investment domain observed net inflows for the second consecutive week, accumulating a significant $78 million, showcasing a bullish sentiment reminiscent of July’s performance.

While Bitcoin, the quintessential crypto giant, continued to dominate, Solana grabbed headlines. As highlighted by James Butterfill, Head of Research, Solana’s re-emergence as a sought-after altcoin signifies its growing appeal among digital investors, especially in light of recent Ethereum futures ETF product launches.

According to the report, with a noteworthy track record for 2023, Solana funds reported inflows for 28 weeks, with a mere four weeks registering outflows.

Always a major player, Bitcoin recorded inflows of $43 million. The report disclosed that a certain subset of investors, potentially riding on Bitcoin’s recent price momentum, initiated positions in short-bitcoin products, leading to an inflow of $1.2 million within the week.

Diverging Investment Patterns: Europe Leads While ETH ETFs Underwhelm

Geographically, Europe continued its digital asset supremacy, accounting for 90% of the total inflows. On the contrary, the combined inflows from the US and Canada totaled a mere $9 million. According to Butterfill, this noticeable regional disparity in investment sentiments underscores evolving market dynamics and investor preferences.

Adding to the digital fervor, trading volumes for exchange-traded products surged by 37%, settling at $1.13 billion for the week. Trusted exchanges dealing with Bitcoin also witnessed a 16% jump in trading volume.

However, it wasn’t all sunshine and rainbows. The recent US launch of six Ethereum futures ETFs raked below $10 million. While seemingly substantial, Butterfill termed the response as showcasing a “tepid appetite,” particularly when juxtaposed against the $1 billion amassed by Bitcoin futures ETFs in their inaugural week back in 2021.

However, Butterfill attributed this difference more to the contrasting market environments and the “poor investor appetite” for digital assets rather than a direct reflection of the asset’s potential.

Furthermore, regardless of the recorded positive inflows from Solana last week, the altcoin is currently facing a bloodbath along with Bitcoin. Notably, Solana has declined by nearly 10% in the past week and 4.5% in the past 24 hours, with a market price of $22.30 at the time of writing.

In contrast, Bitcoin has also shed its portion of losses, down by 2.9% in the past 7 days and 1.4% in the past day, with a trading price currently at $27,518.

Featured image from Unsplash, Chart from TradingView

By now, Bitcoin has grown to the point where crypto investors do not expect very large returns from it and are now looking toward altcoins that could provide the kind of returns they seek. However, with thousands of altcoins circulating in the crypto market, it can become quite hard to pick the coins that could end up doing well.

So here are five altcoins that are well-positioned to do well in the next bull market that could potentially 20x your crypto portfolio.

Lido DAO (LDO) Is A Top Crypto Contender

Lido DAO (LDO) has grown rapidly to dominate the Ethereum liquid staking game, accounting for over 30% of all staked ETH in LSD protocols. This has brought immense attention to its native token, LDO, which on its own has also seen a good run over the years.

However, at just a $1.4 billion market cap, LDO is still what can be referred to as undervalued given its standing in the decentralized finance (DeFi) sector. A bull market could easily see the market cap of LDO cross $30 billion, which would be a more than 20x return on investment from its current $1.61 price level.

Arbitrum (ARB) Dominates Ethereum Layer 2 Altcoins

Arbitrum (ARB) features on this list because of the network’s performance over the years. Of all the Ethereum Layer 2 networks currently in the game, Arbitrum leads the pack both in terms of Total Value Locked (TVL) and daily trade volume.

This puts it ahead of the likes of Optimism (OP), Avalanche (AVAX), and Polygon (MATIC), all of which have been in the game just as long. However, of the 4 leading Ethereum L2s, Arbitrum has the lowest market cap. At $1.08 billion, it is yet to see the same kind of surge its competitors saw in 2021 due to the token launching in the bear market. Arbitrum’s performance even in a bear market shows that it could easily be a top 10 cryptocurrency in the bull market.

Stacks (STX): The Crypto Child Of Bitcoin

Currently, when crypto investors think of NFTs and DeFi on the Bitcoin network, they think of Stacks (STX). This is because Stacks is a Layer 2 network that allows the usage of smart contracts on Bitcoin. This means developers are able to build protocols as well as launch NFT collections on the Bitcoin network using Stacks (STX).

STX’s market cap is still very low at just $715 million especially given what it enables developers to do on the Bitcoin network. This offering makes sure that Stacks is always on the radar of investors, making it a billion-dollar token that could easily bring 20x returns.

Kava (KAVA) Joins The Fun With Layer 1 Technology

Kava (KAVA) has been building up into mainstream adoption despite competition with the biggest networks in the space. This Layer 1 blockchain is taking another route to interoperability by combining the best parts of the Ethereum and the Cosmos networks.

Ethereum is known for its developer power, enabling developers to build pretty much anything, but still held down by slow transactions and high fees. On the other hand, Cosmos has some of the highest speeds and interoperability and when both of these are combined, it presents basically a supercharged Layer 1 blockchain equipped to handle almost anything.

Its native token KAVA is already one of the most watched Layer 1 native tokens, and at a $500 million market cap, it’s fair to say that this altcoin is far from done.

Altcoins Are Not Complete Without The Trust Wallet Token (TWT)

With so many centralized exchanges running into issues such as hacks and bankruptcy, more crypto investors are choosing to self-custody their coins. The top 2 self-custody wallets that also allow users to take advantage of DeFi and NFTs are MetaMask and Trust Wallet. Since only the latter currently has a token, it has been able to corner that market share for itself.

Trust Wallet’s native TWT token rose in popularity when the FTX crypto exchange crashed in 2022 and has not stopped. Going into the bull market, self-custody is expected to be the main avenue to store coins and TWT’s current $411 million market cap could quickly turn into an $8 billion market cap in the bull market.

Bitcoin is 200 days before halving, a supply shock that historical patterns show that prices tend to rally, even clearing previous all-time highs once it happens. In a price chart shared by the “thescalpingpro” on X on October 9, the analyst appears to suggest that the world’s most valuable coin is in the early stages of not only breaking above 2021 highs but registering new highs after the network halves in 2024.

Early Signs Of Bull Rally: 200 Days Before Halving

Thus far, the trader notes that Bitcoin is down 60% from previous all-time highs in 2021. This formation, the analyst says, appears to replicate the same pattern before Bitcoin halved in 2019. Then, just like it is presently, the coin fell 60% from 2017 highs of around $20,000.

As historical pattern shows, Bitcoin prices tend to bounce back strongly after posting sharp losses from previous highs. These upswings are often accelerated by the halving event momentum, pushing prices further away from cyclical lows. 

Every four years, Bitcoin halving occurs, where the reward for mining a Bitcoin block is reduced by half. This feature is built into the protocol to slow the issuance of new Bitcoin. Due to the decrease in the number of coins released to circulation during halving, inflation is reduced, which supports prices, as previous price action has shown.

Although the impact of halving has been well studied, the sequence of events preceding this event appears to be stirring demand. As aforementioned, 200 days before the 2016 and 2019 halvings, Bitcoin fell roughly 60% from all-time highs.

The asset’s prices are at a similar price point precisely 200 days before halving. For this “near-perfect” replication of events, “thescalpingpro” is bullish that the coin might follow a familiar pattern of past cycles.

Bitcoin Race To $48,000 Before Halving?

The spike to all-time highs and beyond, as previewed, is a scenario that could happen once the halving happens. Before then, however, another analyst is convinced the coin could rally to $48,000. 

The analysis is based on crucial support and resistance levels formed by the Fibonacci retracement levels. The analyst is convinced that the coin will retest the 61.8% of the swing high low of the recent 2021 to 2022 range, placing Bitcoin at $48,000 once it recovers. 

The race to this level will be further driven by “halving momentum” and the “bear-to-bull transition from various indicators,” including the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and the on-balance volume of major exchanges, which appear oversold. 

Despite initial expectations of a robust rally, major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP have encountered a slowdown in momentum following a promising start in 2023. However, a prominent tech company’s leaked disclosure can alter this trajectory.

With the Federal Reserve (Fed) grappling with a staggering $33 trillion US “debt death spiral,” investment banking firm Jefferies analysts have warned that the Fed may be compelled to restart its money printing presses. 

This move could trigger the collapse of the US dollar and ignite a significant price boom for Bitcoin, rivaling the value of gold.

Expert Advocates For Bitcoin As An Inflationary Safeguard

A recent Forbes report indicates that Bitcoin’s highly anticipated halving event, expected to cause price volatility, is imminent. 

Christopher Wood, Jefferies’ global head of equity strategy, emphasized in a note to clients seen by CNBC that G7 central banks, including the Federal Reserve, are unlikely to withdraw from unconventional monetary policies smoothly. Notably, Wood considers Bitcoin and gold as “critical hedges” against the resurgence of inflation.

Since spring of 2022, the Federal Reserve embarked on reducing its ballooning balance sheet of nearly $9 trillion, which expanded significantly during the COVID-19 pandemic and subsequent economic downturn. 

This process, known as quantitative tightening, involves draining liquidity from the financial system and shifting the burden of newly issued debt onto the private sector.

US Dollar Caught In ‘Death Spiral’ 

In addition to balance sheet reductions, the Fed has implemented rapid interest rate hikes to rein in soaring inflation. However, this approach has raised concerns about a potential counterproductive “death spiral” for the US dollar, potentially bolstering the value of Bitcoin. 

Wood suggests that the Fed may be forced to adopt a more accommodating stance in response to a US recession. This shift would occur due to a larger-than-usual lag in the Fed’s interest rate hikes aimed at curbing inflation following the significant expansion of the money supply in 2020 and 2021. 

Wood further explains: 

Such a failure to exit from unorthodox monetary policy in a benign manner is likely to culminate in the collapse of the US dollar paper standard to the benefit of both gold bullion owners and also owners of Bitcoin. Meanwhile, Bitcoin, along with Ethereum and XRP to a lesser extent, has witnessed a surge in institutional interest, driven by the world’s largest asset manager, BlackRock. 

The CEO of BlackRock, Larry Fink, who had previously expressed skepticism towards Bitcoin, made a notable shift in June. Fink’s endorsement of Bitcoin sparked a rush among Wall Street investors toward cryptocurrencies. 

With custodian arrangements in place for digital assets, Bitcoin has gained credibility as an investable option for institutional investors, presenting itself as an alternative store of value to gold. 

In conclusion, the Federal Reserve’s monetary policy challenges and the growing institutional interest in Bitcoin and other major cryptocurrencies have created a perfect storm, propelling their prices to new heights. 

Per the report, investors increasingly turn to digital currencies as potential hedges against inflation and storehouses of value as the US dollar faces uncertainty.

When writing, the leading cryptocurrency in the market is trading at $27,300, reflecting a decrease of over 2% in the past 24 hours. This decline follows an overall downtrend in the market since the beginning of the new trading week.

Notwithstanding the recent drop, BTC is positioned above its critical 50-day and 200-day Moving Averages (MAs). This favorable positioning may support a rebound in the cryptocurrency’s value and prevent further decline, helping it maintain the crucial $27,000 milestone.

Featured image from Shutterstock, chart from TradingView.com 

The XRP price has retraced a good portion of its gains following its surge above $0.54 last week. Naturally, this could signal that the end is in sight for an XRP rally but this is not necessarily the case when you look at the altcoin’s metrics and performance even amid its price decline.

XRP Daily Transaction Count Remains Above 1 Million

The XRP daily transaction count first skyrocketed above 1 million back in July when Judge Analisa Torres ruled that programmatic XRP sales did not constitute investment contracts. The XRP price had rallied more than 60% as a result of this and daily transaction counts shot up as well.

By the time August rolled around, XRP’s daily transaction counts had surpassed that of Bitcoin and Ethereum, and the network has not slowed down since. Looking at data from BitInfoCharts, XRP is still maintaining its more than 1 million transactions per day numbers.

Since the start of October, the altcoin’s daily transaction figures have also come out consistently above that of Bitcoin and Ethereum, showing that interest in the network has not diminished.

XRP Ledger Crosses 83 Million Blocks

As transaction counts have been on the high side, block production on the XRP Ledger also shows active participation from users. Late last week, the blockchain marked its 83 millionth block.

This was confirmed by the XRPScan account on X (formerly Twitter), coming less than two months after the Ledger marked its 82 millionth block.

XRP Ledger successfully closed 83 millionth ledger a few moments ago: https://t.co/USQVIHBcmY https://t.co/HwDv3m2nHb pic.twitter.com/wuwTZBMtGx

— XRPScan (@xrpscan) October 5, 2023

The rapid rise in usage is shown by the over 46,000 payments already made in the current block at the time of writing. Additionally, there have been 392,000 transactions and rising, with an average Transaction Per Second (TPS) of 20 TPS.

Daily Trading Volume Jumps 56%

Another major factor that could point to the XRP price rally not being over is the jump in daily trade volume. Between Sunday and Monday, the XRP daily trading volume rose more than 56% to reach approximately $480 million. This follows a jump above $500 million previously before the cool-down.

Just like other factors listed above, the jump in trading volume suggests rising interest. Given that the XRP price has not been in free fall, it could point to the volume being skewed more toward buying rather than selling. In such a case, a rally is more likely to ensue.

XRP Price Rally Could Continue

Despite the XRP price falling to bearish pressure over the last few days, it could quickly recover as metrics continue to flash bullish. As one crypto analyst points out, the XRP price is reaching the point in its 39-month cycle where it could bounce toward another rally. For the top of this rally, the analyst puts the price at $1,000.

Currently, the XRP price is sitting at $0.5141, registering a 1.49% loss in the last 24 hours.

On-chain data shows the true market mean price of Bitcoin is valued at $29,700 right now, making the level of particular significance for the coin.

Bitcoin True Market Mean Price Is At $29,700 Currently

In a new post on X, the lead on-chain analyst at the on-chain analytics firm Glassnode, “Checkmate,” pointed out how the BTC price currently trades below the true market cost basis.

The “market cost basis” refers to the average price at which the investors in the sector bought their coins. One popular way of calculating this cost basis is through the “realized cap,” which measures the total value of the cryptocurrency by assuming that the price at which each coin on the blockchain was last transferred is its true value.

When this capitalization model is divided by the total number of coins in circulation, the “realized price” is obtained, which is the average cost basis of the supply.

However, this method has some issues, such as a chunk of the circulating Bitcoin supply being permanently inaccessible (due to wallet keys becoming lost). A lot of this inactive supply would have traded long ago, meaning its cost basis would be shallow compared to today’s prices. Thus, if included in the metric, it would skew its value away from reality.

Checkmate and Ark Invest’s David Puell came up with “Cointime Economics” a while back, a new methodology that tackles the problems with the realized price.

“Cointime Economics introduces a simplified framework to efficiently discount the impact of lost supply and amplify economic impacts on the truly active supply,” explains Glassnode.

The chart below shows the trend in the “true market mean price” for Bitcoin, as calculated by this advanced model.

Based on this more accurate model, Bitcoin currently has a true mean price of $29,700. Therefore, the asset’s spot price is trading well below this level.

The graph shows that significant breaks above this indicator have historically resulted in the cryptocurrency enjoying some sustained bullish momentum.

Checkmate has also attached the “AVIV Ratio Z-Score” data in the same chart. The “AVIV Ratio” tracks the deviation from the true market mean that BTC is currently observing.

The Glassnode lead notes that this indicator is the most accurate measure of the market centroid for Bitcoin. At the current value, the metric is “still -0.6 standard deviations below its long-term mean,” according to the analyst.

The near-term outcome of the price based on this is uncertain, but in the long term, Bitcoin could see a reversion back to its mean, thus making the current price levels potentially profitable buying points.

BTC Price

At the time of writing, Bitcoin is trading at around $27,500, down 3% in the last week.

Trust Wallet Token (TWT) seems untouched by the crypto market decline, holding a nearly 20% seven-day gain while top coins recede. After finding support at $0.79, it rallied above the $0.94 resistance, flipping it to a new support level today. 

The Trust Wallet Extension update on Chrome might be driving its price gains in the past week. Due to the update, users can now enjoy the full features of Trust Wallet integrated with their Chrome browser. Such ease of access may have boosted the use of TWT, thereby pushing its demand and price. 

Recent Network-Related Developments Can Push TWT’s Price Further

The new Trust Wallet Extension update (V 1.9.1) on Chrome Store was announced on October 3. According to the announcement, users can enjoy native EVM swaps, Ledger and hardware support, and crypto purchases. 

Users can now access 15 different staking options across nine blockchains with the extension. This additional utility is likely driving more investors to the Trust Wallet ecosystem.  

Also, on October 5, Trust Wallet launched a Trust Wallet Testimonial Contest to reward its loyal community. According to a blog post, participants will share their testimonials and experiences using Trust Wallet. 

Trust Wallet will reward five lucky winners with mystery swag boxes once they complete certain tasks. This contest will likely boost investors’ interest in the ecosystem and lead to price gains for TWT tokens. 

TWT Declining On Daily Chart Despite Weekly Gains

Despite impressive weekly gains, TWT shows signs of price decline on the daily chart. Its decline could correlate to the retracement in BTC’s price from $28,000 to $27,770 today, October 9, at 5:36 am EST. After its rally from the $0.79 support level, TWT broke above the $0.94 resistance level. 

Looking at the daily chart, TWT has formed two consecutive red candles on the daily chart, confirming increased selling pressure. Also, today’s candle drops below the trendline, hinting at a slight retracement ahead for the token. 

TWT is retracing in the Donchian Channel (DC) and approaching the Median Band. A drop below this band will confirm that the sellers have reclaimed dominance on its price. 

Furthermore, the Relative Strength Index (RSI) indicator displays a value of 64.5 in the buy zone close to 70. A close look at this indicator and its downward motion reveals that it is retracing from the overbought zone. The RSI’s movement confirms the sentiment that the buyers are beginning to take profit and close long positions. 

Nevertheless, the price retracement for TWT will likely be brief due to its ecosystem developments. The daily chart analysis shows that TWT will likely decline to $0.94 in the next few days before resuming its rally. 

Also, the next rally may likely send TWT above the $1 resistance zone for more impressive gains. However, buyers must avoid bull traps if the $0.94 support level fails to hold. 

The Shiba Inu ecosystem has witnessed a recent surge in BONE Shibaswap investors, as witnessed a recent surge in BONE Shibaswap investors, as some of Shiba Inu’s biggest whales are loading up their bags. According to data from IntoTheBlock, whales of BONE tokens have boosted their holdings in the past month to increase their concentration of the ecosystem to over 43%. 

Whale Wallets Loading Up On BONE In Anticipation Of A Rally

BONE (Shibaswap) is one of the most important tokens in the Shiba Inu ecosystem and has done well since the launch of Shibarium, as the token went on a bullish trend to reach $1.70 in August. Since then, things have cooled down in the Shiba Inu ecosystem, and the token has lost most of this gain.

At the time of writing, BONE is trading at $0.7813, has a market cap of $195 million, and a max supply of 230,003,023 BONE tokens. 

On-chain data from intelligence company IntoTheBlock has shown that most of this market cap is concentrated between 12 whale addresses with 108.53 million tokens. However, these whale wallets have been steadily accumulating BONE over the past month.

The total net flow between addresses holding at least 0.1% of the total market cap has increased by +272.92% in a 7-day timeframe. A similar metric following the movement of BONE tokens has shown that the concentration of these tokens in whale addresses (wallets holding more than 1% of the total supply) has increased by +19.74% in the past 30 days. 

On the other hand, concentration in investor addresses (wallets holding between 0.1% and 1% of the total supply) has reduced by 1.37% in the past 30 days.

Recent Price Action Shows Bullish Momentum Might Be Building

BONE is currently trending downward after having a bullish run since Shibarium’s introduction. Data has also shown only 34% of holders are making money at the current price. However, the increase in large wallet holdings of BONE coupled with a 33.48% increase in the past 24-hour trading volume is a bullish reversal signal, as it can increase buying pressure from retail investors. 

Price action reveals BONE is currently at a major support zone of $0.76. A reaction to the support by bulls might see a rally back up. On the other hand, a break below the support might suggest a further fall in the price of the token.

This comes after Shiba Inu’s lead developer recently renounced the BONE smart contract. Renouncing the contract means developers no longer have control of the token, making it fully decentralized. 

The Bitcoin price has been retracing over today’s trading session after reclaiming some lost ground. The selling pressure could push BTC back to critical support levels unless buyers can stop the current price action.

As of this writing, Bitcoin trades at $27,400 with a 2% loss in the last 24 hours. Over the previous week, the cryptocurrency recorded a 3% loss as the rest of the crypto top 10 by market cap moves in a similar direction.

The One Bitcoin Chart For Success?

Crypto analyst and trader Rekt Capital shared a thesis supported on the upcoming Bitcoin Halving. This event was designed to halve the rewards miners granted to include new blockchain transactions.

In 2024, these rewards will drop from the current 6.25 BTC per block to 3.125 BTC. The halving is one of the most important events in the Bitcoin ecosystem as it directly impacts the supply and demand dynamics of the BTC market.

Rekt Capital believes that the cryptocurrency behaves in a certain way as the Halving approaches. In 2019, after years of trending to the downside and moving sideways, Bitcoin experienced a relief rally.

The analyst believes the upside momentum experienced in the past weeks coincides with this relief rally. The chart below shows that the 2019 and the current price action are similar.

The chart shows the cryptocurrency crashed from the short-term top formed after the relief rally. If history repeats, the Bitcoin price will drop to the lows of the triangle, targeting a critical resistance of around $30,000.

Following The Roadmap

In the financial world, traders often look at past price data to predict future results, but history rarely repeats similarly. However, Rekt Capital believes a crash from the current levels or the area closest to $30,000 could be an opportunity and a roadmap.

Market participants should be on the look of this crash and of a spike in trading volume as BTC reaches a critical point. Two months before the halving, this spike in volume should hint at an imminent rally.

In the short term, traders should keep an eye on the low pointed out by the analyst; if Bitcoin touches these levels, there is an opportunity to set up a position before BTC reclaims the area above $30,000. As the chart above shows, the cryptocurrency often breaks critical resistance very close to the Halving.

Rekt Capital wrote:

~60 days before the Halving, a Pre-Halving rally tends to occur (light blue). In anticipation of the Halving, investors “Buy the Hype” in an effort to “Sell the News.” Once Bitcoin breaks out from the re-accumulation area breakout into the parabolic uptrend (green). It is during this phase Bitcoin experiences accelerated growth on its way to new All Time Highs.

Cover image from Unsplash, chart from Tradingview