8 hours ago:
It's hard to believe we can break $35k on such piss-poor volume, but hey you never know what's gonna happen after such a definitive supply shock, fully rock-bottoming at $29k. If we do break $35k soon I think it's all but guaranteed that we test the next level at $40k, and volume should pick up quite a bit as the FUD flips FOMO.
Now:
So... that escalated quickly.
Eat my shorts, shorts.
We are still obviously trading perfectly between these $5k unit-bias levels. As predicted, as soon as we crossed $35k we shot directly up to $40k before pulling back. The pump up lasted only three hours but made it all the way up to $40k. Bullish much? Six green days in a row from $29k to $40k says 'yes'.
Apparently this was also written in the stars.
https://twitter.com/marenaltman/status/1352832431318052864
- marenaltman
Pretty... Wild...
Goddess Moon still dabbling in Bitcoin it seems.
In any case, obviously people are pretty excited. I'm sure some investors won't even notice that this happened until tomorrow. We are on the verge of saying goodbye to the whole notion of this supposed bear market, and all the people who were running around like the sky was falling will look back on this period as a 2 month consolidation, rather than the multi-year doom and gloom they've been peddling for weeks now.
This is not a drill.
This is the real deal. Momentum like this doesn't just fall away after hitting rock-bottom like we just did five days ago. August is going to be a damn good month.
Amazon finally making a crypto play:
According to the news website City A.M., an “insider” has confirmed that Amazon is “definitely” looking to launch Bitcoin and crypto payments by the end of the current year. In addition, the e-commerce giant could launch its own token by 2022.
This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.
Hm, yeah... took you guys long enough.
Amazon making a crypto play was the obvious move, but this timing is nothing but impeccable. Who knows how deep down the rabbit hole this will go and how much value it will bring. Guess we'll just have to wait and see.
And it really goes without saying, that the more infrastructure Big Tech companies like Amazon build on top of crypto, the more crypto they'll have to buy and hold in order to invest in themselves. Of course this investment in themselves also makes everyone else in crypto rich at the same time.
This is synergy at it's finest, and the exponential gains are clearly going to continue on for a while at this rate. The middle-man central bankers are being cut out of the equation, and corporations are now able to store their value in an asset gaining value every year rather than losing it. The honeypot is real.
Conclusion
It's been a minute since we've seen such unrelenting upward action. The fact that this is happening with so little volume means the sellers are still absent and the diehard holders are in full control of this market once again. Expect this trend to continue at least until we get to $45k. Think of all the bears out there that are about to turn bullish. There's quite a few of them out there. Exciting times.