Christopher Brown, Executive Director of FaithFinance at FaithFinance states: Yes and Yes again. Today, 3/23/21, Bitcoin is at $55,100 after finding a new ATH at $61,400 on March 13th. You can see from the 4-hour price chart above Bitcoin has found price support at around $54,700 touching on this number nine different times.
The RSI dipped below 30, which it has only done twice since March 13th. The RSI is indicating buying pressure is low and price is cheap. It is making its way back up. The MACD indicates the 12 is under the 26, but the red bars are signaling a change in direction. Therefore, the 4-hour technical indicators are signaling this a good time to buy.
Keep in mind the bigger picture. With the amount of institutional and corporate investment money coming into Bitcoin in the billions (ie Elon Musk) the likelihood of Bitcoin being this price again this year is slim to none. Here is some additional information to back this up ….
While a $100,000 BTC price might seem unbelievable, I would highly suggest watching the video and focus on the post halving price chart. Not that it is exactly right, but mid April could be when we see this new ATH.
BTC scarcity is real and is something else to consider. Therefore, in my humble opinion, any time is the right time to buy Bitcoin. Here is more on this topic….
I think this topic scarcity is being missed by many new retail investors coming into the market. The “big money” understands, hence the rush to buy in such large quantities. To help understand this fact one needs to understand Bitcoins finite mining amount of 21 million, Bitcoin’s adoption curve and the global debt problem. When you understand the global debt problem and couple that with the “great reset” then BTC scarcity makes a lot of sense.
Do not let the $55,000 price tag of Bitcoin cause you not to buy because it simply looks TOO BIG. Dollar cost average in and buy smaller pieces of BTC at a price you can afford. Swan offers some great programs as low as $10 a week. Here are a couple of links…..
Buy Bitcoin – Swan Savings Plan Buy Bitcoin with your bank account
Learn about Bitcoin – FREE BOOK from Swan Buy Bitcoin with your bank account – Read here at https://www.swanbitcoin.com/CryptoNovus/?gc=yanbook1020&utm_campaign=yanbook1020
Feature is written by:
California State Licensed Architect, Interior Designer
Principal at Architectus 2001–present
Studied Bachelor of Architecture at California Polytechnic State University,
San Luis Obispo Graduated 1987
Connect with Chris here at:
Buy Bitcoin – Swan Savings Plan
Learn about Bitcoin – FREE BOOK from Swan