Short term that may be the case, however the market is balanced and slightly favoring the bulls last few weeks/months. With supply to be cut by 50% in 5 months time, speculators will not have large risk (short) positions in front of a rolling train. Additional demand is not required (when supply is halved) for price to rise to reach equilibrium.
Discussion
Yeah, I’m expecting a bull market too. I just think there is a chance of a buy the rumour, sell the news ETF event plus the US it’s going into a recession. But let’s see. I hope we will see 20k again, for all of us
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