by Midas Touch Consulting

From a market perspective, we live in times of high risk. Markets typically reflect the world, and it is a misconception that markets only anticipate a future. They can also lag; after all, inflation is already present, and they can also be a reflection in real-time, e.g., market crashes. Consequently, it is essential to view an investment from various time angles to place one’s bet. The uncertain certainty of bitcoin.

Some might argue that it is best to sit on one’s hands and wait for a time when bitcoin prices are suppressed, and they have a point with the possibility of a market crash. And then again, they might have said that already when bitcoin was still trading at US$3,000 (we do not find it likely that bitcoin will ever retrace to those levels again.).

Where are the uncertainties in bitcoins certainty? When you dissect a complex mechanism, you will always find a problem. It is like going to the bakery. It would be foolish to expect to get anything else but bread. Maybe it is better to look at a glass half full, meaning why not look at why bitcoin could be a certainty?

BTC in US-Dollar, Monthly Chart, every buyer is a winner if he didn’t sell:

Bitcoin in US-Dollar, Monthly chart as of November 9th, 2021. The uncertain certainty of bitcoin

Bitcoin in US-Dollar, Monthly chart as of November 9th, 2021.

The monthly chart above certainly shows that whoever bought in the past has made a profit by now. Yet, we know “hodling” isn’t an easy thing. Personal risk appetite determines the number of bitcoin that can be held throughout these boom and bust cycles. We solved this dilemma through our quad exit strategy. And we teach low-risk position size building in our free telegram channel.

BTC in US-Dollar, Weekly Chart, new all-time highs:

Bitcoin in US-Dollar, Weekly chart as of November 9th, 2021. The uncertain certainty of bitcoin

Bitcoin in US-Dollar, Weekly chart as of November 9th, 2021.

Now, moving forward to real-time, we can make out a similar bullish picture on the weekly chart after our glimpse in the past. Recent events provide data that substantiates bitcoin’s long-term certainty. A look at the last two weeks of October (marked in white) reveals a very brief battle with a minimal retracement level at the double top of all-time highs. Bears barely get a foot in the door, where typically bitcoin experiences significant retracements. To us, a clear sign that the rush is on. Big player money is now rushing to accumulate the necessary size they aim to hold on their books for the long term. Consequently, reducing volatility, one of the most feared aspects of bitcoin, which in times to come will attract more market players to this trading vehicle.



BTC in US-Dollar, Monthly Chart, six figures in 2022:

Bitcoin in US-Dollar, Monthly chart as of November 9th, 2021.six figures The uncertain certainty of bitcoin

Bitcoin in US-Dollar, Monthly chart as of November 9th, 2021.

A look into the future from a monthly chart perspective is confidence building as well. With new all-time high prices printing at the time of publication of this chart book, our bet is still on bitcoin with a 63% over 37% chance that prices will advance from here rather than retracing to a substantially lower price level. So far, bitcoin has done nothing else but eradicate the uncertainties placed in its way. The most stubborn doubter would likely be happy if they had picked up a few coins when they traded at a dollar. What provides confidence for our forecast is the confirmation that bitcoin price retracements are now more modest. This lets us assume that the amount of professional traders participating in this market has increased. In the monthly chart above, you can make out that closing prices of the month’s May, June, and July this year closed above the 50% Fibonacci retracement levels. A conservative retracement for bitcoins historical standards. We project for the near term that bitcoin will reach six-figure prices in mid-February next year.

The uncertain certainty of bitcoin:

From the anticipatory perspective, it seems evident that holding bitcoin is a prudent move with a look into the future. A hedge is needed once the risk is apparent to all, and the house of cards will tumble.

From a real-time perspective, we also find bitcoin to be a “must-own.” The charts above showed the strength with which bitcoin is aching to claim its turf, and it is never good to wait till “fear of missing out” kicks in, and low-risk entry opportunities become scarce.

And from a reactionary perspective, a look in the past, it is evident that anybody would like a piece of the action where bitcoin has nothing but a stunning history of unheard percentage moves and made it from eight cents to US$ 67,000 in just a dozen years.

There are always uncertainties in speculative ventures, but bitcoin itself is a certainty, not to be rationalized away for the years to come.

 

Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can subscribe to our free newsletter.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting.

Weitere Nachrichten

ION Energy Makes New Lithium Discovery W...
ION Energy Makes New Lithium Discovery W...
ION Energy Limited (TSXV: ION; FRA: 5YB) reports a new lithium discovery from its Baavhai Uul Lithium Salar pr...
29 views Wed, 01 Dec 2021, 16:50:12
P2 Gold drills 1.01 g/t gold equivalent ...
P2 Gold drills 1.01 g/t gold equivalent ...
The latest results from the past drill season at the Gabbs copper-gold project in Nevada once again exceed his...
55 views Wed, 01 Dec 2021, 15:53:36
Group Ten Metals: Final Agreement for Bl...
Group Ten Metals: Final Agreement for Bl...
Back in August, there were indications that Group Ten Metals Inc. (TSX-V: PGE, FSE: 5D32) would enter into an ...
46 views Wed, 01 Dec 2021, 05:45:40
Element 29 receives drilling permit for ...
Element 29 receives drilling permit for ...
Element 29 Resources Inc. (TSX-V: ECU; FRA: 2IK) may begin exploration on its second highly prospective copper...
60 views Mon, 29 Nov 2021, 17:28:46
Granite Creek Copper: Project neighbour ...
Granite Creek Copper: Project neighbour ...
Granite Creek Copper Limited's (TSXV: GCX, FSE: GRK) Carmacks copper-gold-silver project is located in the Min...
61 views Mon, 29 Nov 2021, 10:28:19
Finlay Minerals wants to find the twins ...
Finlay Minerals wants to find the twins ...
Denver-based activist hedge fund, Crescat Capital, made its first investment this summer in Finlay Minerals Lt...
1142 views Sat, 20 Nov 2021, 15:20:28
Pond Technologies increases Q3 sales by ...
Pond Technologies increases Q3 sales by ...
Pond Technologies Holdings Inc. (TSXV: POND;FRA: 4OO) succeeded in increasing revenue by 70% in Q3 2021 compar...
138 views Fri, 19 Nov 2021, 14:07:58
Sitka hits >1 g/t Carlin gold and double...
Sitka hits >1 g/t Carlin gold and double...
Sitka Gold Corp. (CSE:SIG; FRA:1RF) continues to systematically work towards the discovery of a Carlin-type go...
252 views Tue, 16 Nov 2021, 18:06:53
Element 29 Drills 418 Meters of 0.51% Co...
Element 29 Drills 418 Meters of 0.51% Co...
Copper explorer Element 29 Resources Inc. (TSXV: ECU; FRA: 2IK) has impressively underlined the potential of i...
151 views Mon, 15 Nov 2021, 15:55:35
Is gold company Kingman Minerals on the ...
Is gold company Kingman Minerals on the ...
Inflation in the U.S. is at its highest level in 30 years, lifting the price of gold back well above the USD 1...
261 views Sat, 13 Nov 2021, 14:12:38