Feels like we’ve been treading water since late February. Well we have been, haven’t we. Really hoping for some bullish momentum soon and a significant period of uppity. $61,000 seems very cheap, we’re still below the 2021 high, which is a bit pathetic really considering we now have Spot ETFs and institutional buying.
I don't know why people are not a little more realistic with their expectations, because it is quite logical to me that we currently have this kind of situation that usually follows in the summer months in the northern hemisphere when a very large number of people are not active in trading, but are traveling and enjoying their summer vacation.
BTC spot ETFs have obviously brought a change to the market, but it should be remembered that they are used by people who only want profit and who are not interested in Bitcoin in any other context. Therefore, we see that every time when spot ETFs record an inflow, the price of BTC rises, and when they record an outflow, the price drops. Considering everything that is happening in the world in the context of economics and politics and war conflicts, I am quite satisfied with the price of BTC at the moment.
I’m going to stay positive and expect that in the new few months we leave this range behind and blast through the $70,000 zone into price discovery hitting multiple all time highs before the year is out. I know that 2025 is likely to be the peak of this cycle (and probably the second half of the year) but I expect us to start moving up soon. We should be past the $60,000’s now.
There is no reason not to be positive, we have good reasons to believe that history will repeat itself and that at some point a big bull run will follow. Honestly, the only thing that worries me is the situation surrounding the presidential elections in the US, because if Trump does not win, we all know that he and his voters will not accept it calmly, and every crisis in the US is reflected in the whole world.