Bitcoin Primed and Ready To Go?
It seems like it, although under $60K at the moment, Bitcoin seems ready for lift-off
Bitcoin is ‘caged bull’ ready to escape at $60K — Bloomberg Intelligence
“An accompanying chart described Bitcoin as a ‘caged bull, well rested to escape’” It included Bollinger Bands for Bitcoin, a popular tool for assessing upside and downside volatility.
Compared to the year after its two previous block subsidy halvings in 2012 and 2016, meanwhile, 2021 for McGlone is ‘tame’ in terms of price action.
This chimes with other analysts’ perspectives, among them the popular Ecoinometrics Twitter account, which, on Monday, again highlighted just how modest Bitcoin’s post-halving growth has been over the past year compared to cycles past.
McGlone is a well-known Bitcoin fan, frequently voicing his excitement for the cryptocurrency’s growth based on various macro and on-chain metrics.”