$Riot Platforms(RIOT)$ I'm in for the long haul and riding the π! BTC to $100000
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The Minors and BTC
Large caps are modestly higher today, while small caps rebound. But the big story is Bitcoin and the related names. BTCUSD is adding to the breakout move, trading near $70k. And its taking the proxies, miners, and related names with it.
* HUT +15%
* WULF +10%
* MARA +11%
* IBIT +5%
Is this just the beginning?YES IT ISππππππ
2023 brought an 8-month consolidation, resulting in the 10-week MA touching the 40-week MA, leading to a massive breakout.
In 2024, weβre seeing almost identical action.
The previous breakout move went up more than 140% in about six months. If Bitcoin trades above $72,000, I donβt want to be on the sidelines.
2023 brought an 8-month consolidation, resulting in the 10-week MA touching the 40-week MA, leading to a massive breakout.
In 2024, weβre seeing almost identical action.
The previous breakout move went up more than 140% in about six months. If Bitcoin trades above $72,000, I donβt want to be on the sidelines.
Bitcoin could see a huge rise for the rest of this year and into 2025
@Tiger_comments @Daily_Discussion @TigerObserver @TigerPM @TigerWire @TigerGPT @TigerStars @TigerPicks @TigerOptions
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Based on the available news and capital flow data, here is a summary of the key points:
Bitcoin's recent surge: Bitcoin (BTC) has been performing well, reaching a price above $70,000. The current market sentiment is optimistic, with expectations of Bitcoin rising to $100,000 or even $200,000 in the future.
Relationship with Trump trade: Bitcoin is viewed by some as a "Trump trade" due to the support shown by former President Donald Trump. There is speculation that a potential Trump election victory could further boost Bitcoin.
Inflows into Bitcoin-related stocks: The positive movement in Bitcoin has led to significant gains in related stocks such as $Riot Platforms (RIOT), $Marathon Digital Holdings Inc (MARA), and $iShares Bitcoin Trust (IBIT). These stocks have experienced notable increases in their stock prices.
Technical analysis similarities: There are similarities between the current market action in 2024 and the previous breakout move in 2023. In 2023, there was an 8-month consolidation period followed by a significant breakout. The current market action appears to be following a similar pattern, indicating a potential breakout.
Given these factors, it is possible that the recent surge in Bitcoin and related stocks is just the beginning of a larger upward trend. However, it is important to note that the cryptocurrency market can be highly volatile and subject to various factors, including regulatory changes and market sentiment.
I would like to remind you that the information provided is for reference purposes only and does not constitute investment advice. Investing in cryptocurrencies and related stocks involves risks, and it is essential to conduct thorough research and consider your own risk tolerance before making any investment decisions.
jskk