Long term bitcoin outlook
Many much smarter people than me believe that as banks intensify their quantitative easing and rates go to 0, bitcoins case as a new new international monetary system stands stronger than ever.
With futures going in backwardation and derivatives funding rewards longs, we could see bitcoin reaccumulate and bounce strongly towards a brighter future.
Personally I'll be buying spot in levels bellow 5k and start leveraged longs after clear longer term bullish starts forming. Bitcoin reclaiming any previously lost support would be a signal for additional risk managed longs.
Many much smarter people than me believe that as banks intensify their quantitative easing and rates go to 0, bitcoins case as a new new international monetary system stands stronger than ever.
With futures going in backwardation and derivatives funding rewards longs, we could see bitcoin reaccumulate and bounce strongly towards a brighter future.
Personally I'll be buying spot in levels bellow 5k and start leveraged longs after clear longer term bullish starts forming. Bitcoin reclaiming any previously lost support would be a signal for additional risk managed longs.