Yes, I’m actually going to type something bullish about Bitcoin, but hear me out. I was struck by the good-looking pattern on BITO, which is one way to go long Bitcoin without actually having a crypto account.
Looking at $BTC itself, the past year has been exceptionally good, witnessing the price double.
I’d say the biggest reason I’d suggest good times ahead for Bitcoin has nothing at all to do with charts, but is this instead: over the past year, the crypto industry has seen the two biggest players by far (FTX and Binance) get blasted to absolute smithereens with bankruptcy and mega-fines. How has crypto reacted? With a shrug of the shoulders. Yes, FTX made crypto “cheap” in the first place, but it has recovered handsomely, and the big Binance news barely caused anyone to blink their eyes.
I wouldn’t be surprised to see 2024 be another good year for crypto, or at least Bitcoin itself.
