Hello,
As some of you know I like to track what are the ETFs doing. I think they have a big influence over short term price movements. I've been tracking their inflows and outflows for a long time and it's hightly correlated. We had this correction when they started dumping, and they are still dumping. I don't expect the price to recover until we see inflows again.
One of my favorite websites to track the Bitcoin ETF flows is this one: https://farside.co.uk/btc/
You can also see the table here:
As you can see in the table, for the last 14 days we had just 3 days of inflows and 11 days of outflows. I will be tracking all this data for the next week to see if any recover is expected.
At the time of writing this words the Bitcoin price is below $84,000 and has been trading here for the last few days. HIVE remains at $0,24 cents an is hodling at this level. $0,20 is a really good entry price if we get there I will be considering to buy more.
I was looking at the price chart of Hive and I noticed that we had the exact same pattern months before the full bull market. Take a look at the chart from Tradingview:
Are we at the best spot ever to buy Hive? Could it be that easy? Hmmmm. Not a fan of this coincidences but sometimes history rhymes. Will it be one of those cases?
I'm writing this for the record, I would love to tell you I said so 😜
I'm writing these words moments before I go to play basketball. When the markets are boring, just go outside and do other things. Take your eyes off the charts and enjoy doing some sport.
Have a great week!
