All good things come in three
You know this famous saying, don’t you? If we continue the current trend we should see the third big green week after the US election which might lead us to the magic 100k. Continuation of tve rally? Sounds good?
But how likely is it?
Well, ETFs are still buying massive amounts of BTC. Last week Blackrocks‘ IBIT alone bought 2 Billion USD worth of Bitcoin. The US CPI data also was in line with expectations, not higher than expected and US labor market is weakening recently. Earnings reports wer not bad but wuite mixed. This all points towards the Fed to lower rates further in December. But exactly that is not what Powell wants to be pushed at. He said last week there’s no hurry to ease too quickly. That was a bit of a bummer but I think if you step back a bit, the broader picture remains bullish for Bitcoin. Even Gensler hinted that he might step back as SEC chair soon.
What do you think guys? Will we see 100k Bitcoin coming week or consolidate the current rally?
My preferred scenario is the first one of course. 😅
