BITCOIN Won't Stop!! "To The Moon" -- Additional Thoughts About This Rally
As I pointed out last night, we're on the vertical leg of this parabolic move. This is where we see the biggest gains, but also where we see the quickest pullbacks as fear and panic will set in quickly for the people fearing losses and traders taking profits.
Despite this fact, there still doesn't seem to be immediate fear that there's bears on the horizon. Several factors are leading me to thinking this....
Buyers are mainly looking at BTC. If we look at the crypto market cap, BTC is near the ATH's, yet the other cryptos are FAR from it. BTC being so close to the $20k ATH has over 60% of the market cap which is only $350 billion (I say "only").
Institutions are coming in but only interested in investment profits.....this is why the Alts haven't done as well. Since it's only profit-driven, we will likely see bigger swings as well on the way down, but also a lot of buying I'd guess.
Search interest has slowed down, yet price is rising. This market cycle is leaving out the main retail traders -- when they jump in, prices will rise even quicker.
Enjoy those gains people!! Congrats to the bulls!