Dimon in the Rough

Chart of the Day

Zoom Out. The last line of defense at $47k has successfully held incoming bears at bay. As the futures market shakes off excessive leverage, we’re seeing somewhat of a BTC bounce back to the upper $53k region. For some of us who find the recent scares seeming all too real, here is a little dose of confidence. The driving force behind each bullish cycle boils down to a surge in demand. Coincidentally (or not), entity growth is observed to undergo exponential increases throughout previous cycles. Although we understand that exponential growth will eventually plateau out, notice how the new ATH has just peaked the previous 2017 high, signaling that there is probably room for further growth.