Bitcoin is on the Verge of Making History (But It Just Hit a 618 Meter High Wall)

TL;DR

• BTC simply hit its ‘golden fib’ stage at $48,550 — if it breaks it earlier than the halving, it will likely be the primary time in historical past (and we might be on our option to new all time highs).

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That debate we’ve written about 3 times up to now few weeks?

(Will Bitcoin crash or skyrocket earlier than the halving?)

It’s he. ting. up!

One of many foundational instrument units in monetary chart evaluation, are ‘Fibonacci ranges’ (that are based mostly on Fibonacci sequences — the identical ones you used to have to check in highschool).

And there’s one line on the Fibonacci charts that has by no means been crossed earlier than the Bitcoin halving (which is due in April of this yr).

This stage is called the 0.618 stage, or the ‘golden fib.’

Traditionally, Bitcoin has at all times tried to moved up in direction of the golden fib stage within the lead as much as the halving, however then collapsed -30% or extra (earlier than operating as much as all-time-highs).

This time round — the golden fib stage sits squarely at $48,550.

…and guess who Bitcoin kissed this previous weekend — $48,535 (the soiled canine)!