 | According to CoinDesk, "Google Searches for 'Bitcoin Price' Reach 7-Month Low" was written on July 15 2021. As you see, "bitcoin price" peaked at 100 during the day where Elon Musk started to cause a dump to the market heavily. It fell to a low to 28 shortly after, to the December levels when bitcoin was just 10k-30k. During the late 2020-early 2021, volume was huge. Meaning, very big amounts of buying and selling within the timespan. The red and green bars are the volume. As you can see the last few weeks had underwhelming volume. But that to me, is really bullish, at least to me (remember, not financial advice don't know shit about fuck). We are consolidating at the $30k-50k levels. That means that less people or institutions have been buying and selling. They are holding. Lack of search interest by retailers tells us crypto is dead to them for another 2 years, thinking a bear market. So most likely it tells us that, the bubble HAS burst and we had returned to normal, we had been close to the bottom, most of the panic sellers have been shaken out or people are aligning themselves to long term. This puts us to simply wait for more institution movement in the future, and a massive mania pump can put us to 6 digits. [link] [comments] |
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