/biz/ - Business & Finance

and all the normies, about 400, thought BTC is a scam after 2K17.

BULLISH. AS. FUCK.

>>24326148
>>24326217
cope

GREEN ALERT!!!

Bitcoin could surge towards $100,000 next year following yesterday’s “healthy pullback”, with market psychology currently in the “belief” stage says Stack Funds.

Crypto index fund provider Stack Funds has labeled yesterday’s pullback as a “healthy correction” that was needed before Bitcoin continues its upward trajectory.

Bitcoin broke through $19,000 earlier this week after posting seven weeks of consecutive gains. According to the firm, the crypto has been at overbought levels since October, further supporting the need for a correction.

The firm examined metrics around market psychology, and says market participants are currently in the ‘belief’ stage of the cycle which will eventually to flow into a ‘euphoria’ stage.

To support their claims, the fund cites Glassnode’s data on Bitcoin’s net unrealized profit/loss, often referred to as NUPL — which compares BTC’s current price with when each coin last moved on-chain.

Historically, when the number of people in profit has surged above 95%, the fund explained, it has been a good indicator of market tops. Colour mapping the parameters in percentiles with various market states (Euphoria - >75%, Belief – 50% to 75%, optimism – 25% to 50%, Hope – 0% to 25%, Capitulation - <0%) allows for a breakdown of Bitcoin’s macrocycles.

https://cointelegraph.com/news/stack-funds-hails-bitcoin-s-healthy-correction-predicts-euphoria-ahead