All the on-chain data continues to point towards a robust accumulation phase, and a distribution of weak-handed bitcoin bought above $53k. We are setting a floor for a rebound and it's likely to be the strongest in terms of altitude. Conventional wisdom says only buy bitcoin with what money you can afford to lose. Modern wisdom says you should buy bitcoin with the money you can't afford to lose. So here are some up-to-date charts.π²
Here's a chart showing retail accumulation at its highest since the Covid crash in March of 2020. I'll add that all the data is the opposite of the May selloff, or any drawdown for that matter, going back to 2013 that I can find.π²
Submitted December 17, 2021 at 01:51PM by Mallardshead https://ift.tt/3F8kf76 https://ift.tt/2Z7cX2s
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