🕊️ Geopolitical tensions ease + Saylor calls a bull market: BTC surges past $83,000. Should we believe it this time?
On October 20, Bitcoin hit an intraday high of $83,124.
There were two main drivers:
🔹 The news: Reports said Qatar and Pakistan had mediated a preliminary US-Iran peace proposal. US stocks rose, oil prices fell, and risk assets collectively breathed a sigh of relief.
🔹 The bull call: Strategy Executive Chairman Michael Saylor went on TV and declared, “The bull market has started.” His reasoning: BTC has rebounded about $20,000 from its 200-week moving average, and he predicts it will return to six figures within 12 months.
With BTC having held above $80,000 for the past few weeks, the rally also liquidated a batch of short positions.
My take:
The geopolitical news is only a “preliminary proposal,” and things could change at any moment before it’s finalized. Rallies fueled by headlines can give back their gains just as quickly.
Saylor’s views are worth hearing, but remember that his company holds a large BTC position. His bullish outlook reflects his own interests; it’s not a neutral forecast.
The key thing to watch is whether $80,000 continues to hold. If it does, then we can talk about six figures.
What do you think: Is this the start of the second leg of the bull market, or just a news-driven spike? 👇
#比特币 #BTC #Saylor #Macro
On October 20, Bitcoin hit an intraday high of $83,124.
There were two main drivers:
🔹 The news: Reports said Qatar and Pakistan had mediated a preliminary US-Iran peace proposal. US stocks rose, oil prices fell, and risk assets collectively breathed a sigh of relief.
🔹 The bull call: Strategy Executive Chairman Michael Saylor went on TV and declared, “The bull market has started.” His reasoning: BTC has rebounded about $20,000 from its 200-week moving average, and he predicts it will return to six figures within 12 months.
With BTC having held above $80,000 for the past few weeks, the rally also liquidated a batch of short positions.
My take:
The geopolitical news is only a “preliminary proposal,” and things could change at any moment before it’s finalized. Rallies fueled by headlines can give back their gains just as quickly.
Saylor’s views are worth hearing, but remember that his company holds a large BTC position. His bullish outlook reflects his own interests; it’s not a neutral forecast.
The key thing to watch is whether $80,000 continues to hold. If it does, then we can talk about six figures.
What do you think: Is this the start of the second leg of the bull market, or just a news-driven spike? 👇
#比特币 #BTC #Saylor #Macro