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1/6 Weekly #Bitcoin 
Price Temperature (BPT) update 
What a week!
#Bitcoin set a new ATH at $42k, closed with a BPT of 7 the first time this cycle and is currently correcting (drop to $32k, now back at ~$35k).
with more charts & interpretations 
Price Temperature (BPT) update What a week!
#Bitcoin set a new ATH at $42k, closed with a BPT of 7 the first time this cycle and is currently correcting (drop to $32k, now back at ~$35k). with more charts & interpretations
2/6 #Bitcoin pierced through BPT6 for the 1st time last weekend, and continued to run up this week, up to a daily close with a BPT of 7
During the 2017 cycle, the #Bitcoin price never reached this without (multiple) steep corrections, illustrating how hot this current run is
pierced through BPT6 for the 1st time last weekend, and continued to run up this week, up to a daily close with a BPT of 7During the 2017 cycle, the #Bitcoin
price never reached this without (multiple) steep corrections, illustrating how hot this current run is
3/6 If you compare this cycle's #Bitcoin Price Temperature (BPT) pattern to that of the previous cycles, it is quite clear that this current bull run got heated much faster after the halving than the 2017 run did, at a pace that is more similar to that of the 2013 double-tops
Price Temperature (BPT) pattern to that of the previous cycles, it is quite clear that this current bull run got heated much faster after the halving than the 2017 run did, at a pace that is more similar to that of the 2013 double-tops
4/6 As a result of the continued volatility, the sloping up of the #Bitcoin Price Temperature (BPT) Bands that I mentioned last week accelerated as well
Current levels:
- BPT0: $7739 (+0.33%/d)
- BPT2: $17,417 (+0.88%/d)
- BPT6: $36,773 (+1.12%/d)
- BPT8: $46,451 (+1.16%/d)
Price Temperature (BPT) Bands that I mentioned last week accelerated as wellCurrent levels:
- BPT0: $7739 (+0.33%/d)
- BPT2: $17,417 (+0.88%/d)
- BPT6: $36,773 (+1.12%/d)
- BPT8: $46,451 (+1.16%/d)
5/6 If you visually compare the current post-halving price trajectories to that of the previous cycles, you'll see that this cycle has similarities to both the 2012-2016 and 2016-2020 cycles
Statistically, the BPT trajectory is the most similar to the 2016-2020 cycle (r=0.86)
Statistically, the BPT trajectory is the most similar to the 2016-2020 cycle (r=0.86)
6/6 A limitation of the BPT is that is based solely on historical prices and ignores changes in context
E.g., in 2020 the USD M1 money stock increased by +68%. I am working on a M1/M2 inflation corrected version of the BPT, hope to share it soon
https://twitter.com/dilutionproof/status/1347171904113815552
E.g., in 2020 the USD M1 money stock increased by +68%. I am working on a M1/M2 inflation corrected version of the BPT, hope to share it soon
https://twitter.com/dilutionproof/status/1347171904113815552
