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@Barcode：$Bitfarms Ltd.(BITF)$ $CME Bitcoin - main 2410(BTCmain)$ 🔺🅱🆄🅻🅻🅸🆂🅷🔺 Target 🎯 $4 minimum $BITF 🗞️📰🚨 Source: The Kobeissi Letter: Bitcoin is back. While everyone was focused on stocks, #Bitcoin silently began a new bull market. Over the last 12 months, crypto has added $1.3 TRILLION of market cap. If Bitcoin was a company, it would be the 8th largest company in the WORLD. What happened? Bitcoin is back. While everyone was focused on stocks, #Bitcoin silently began a new bull market. Over the last 12 months, crypto has added $1.3 TRILLION of market cap. If Bitcoin was a company, it would be the 8th largest company in the WORLD. What happened? Over the last 12 months, Bitcoin is now up a whopping 142%. Since January 1st, Bitcoin is up 55%. This makes Bitcoin a better performer than every Dow Jones component. As risk appetite has returned, Bitcoin has benefitted more than most asset classes. When you compare Bitcoin and gold, it's not even close right now. Since the start of 2023, Bitcoin is up over 312% while Gold is up just 45%. But, it no longer appears that Bitcoin is a safe haven asset which has actually benefitted crypto bulls. Something changed in 2020. Bitcoin returns have been positively correlated with the S&P 500's returns. Prior to 2021, Bitcoin and the S&P 500 saw negative correlation. This shift is bullish for crypto as the S&P 500 has always averaged a positive return over the long-run. The election has also been a major factor here as Trump's odds of winning have skyrocketed recently. His pro-Bitcoin stance is being priced-in and could open for new all time highs soon. Bitcoin bulls believe a Trump win would spur more demand. Lastly, Bitcoin has been highly profitable from a trading perspective. Technicals have been incredibly accurate and here is the chart we have been trading all year on our private feed. Price action in Bitcoin is more technical than most markets. It's a trader's dream. @Tiger_comments @TigerStars @TigerPicks @TigerObserver @TigerPM @Daily_Discussion @TigerWire @TigerGPT Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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