Remember! Remember! The 5th of November!

6 בספט׳

Thursday... the 5th of November 2020... BTC pumped nearly 7% in one day.

We were 30ish days into the parabolic phase of the 3rd bull cycle for #Bitcoin.
It was trading at $14,911.

The holders had no idea that BTC would continue to climb an additional 335% over another 5 months, reaching a local ATH of $64,895 on April 14th 2021.

Here we are on September 6th, 2024. BTC dropped to $52,546 or (-3.8%) for the day.
Septembers are a sore subject when it comes to financial markets and Bitcoin in particular.
Across the Post-Halving years, BTC will drop -2% historically.

Considering BTC has tested local lows across the 5th and 6th of the last 3 months;

July 5-6th low: $53,499
August 5-6th low: $49,050
September 5-6th low: $52,546 (so far)

It is almost like someone is trolling the Holders...

The focus of this chart is to consider the above and the following.

Have we found our local bottom this early in September? ($52,546)
How will Bitcoin react to the upcoming 25 bps Fed Rate cut? ($50,000 vs $60,000)
Will our price position entering the parabolic phase affect the overall gains over the next 6 months? (90% vs 480%)
Where will our new ATH fall next April/May? ($100,000 vs $305,000)

Let me know how bearish or bullish you think the future of Bitcoin is.