Note: The last ten days have seen a stunning 60% rise in Bitoin price. Every so often I send out market updates to my friends and colleagues on the Bitcoin market. The last one I sent, a week ago, provided my understanding of why this was happening and what to expect next. Several friends suggested this would be of interest to the community – so I am publishing here a shortened version.
- The last few months have been marked by significant de-risking of Bitcoin as an investment.
- Several strong positive trends have added value the ecosystem and that have yet to be fully reflected in the price.
- I believe that the outlook for the next 6 months is low risk (relative to Bitcoin) with high potential upside.
- Over the very short term, I expect the most likely scenario to be a sharp but short correction, followed by…
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