Home CryptoBitcoin Crypto: Timeframe for Bitcoin 3X Rally

#crypto#bitcoin #rally

$BTCUSD

“A crypto analyst is comparing Bitcoin’s price action to one traditional stock to predict what’s next for BTC after a rocky last 2 months”–Paul Ebeling

In a new strategy session, the anonymous host of InvestAnswers highlights automaker Tesla while telling his 442,000 YouTube subscribers about the significance of mean reversion, a metric that posits an asset’s price will eventually return to its long-term average.

“Let’s look at the pair. This is the Tesla-divided-by-Bitcoin pair, and you can see the price now is about 0.036. We are back at late 2020 levels. It’s like a big huge U.

Looking at this chart, you’ll see the blue line, that’s the 200-day moving average. That’s about 0.024 and we’re currently trading at 0.036. While Tesla has remained flat over the last 12 months, Bitcoin has gotten hammered 70%.

That is where we are, that is the situation and that’s why there’s parallax like this.

 

The analyst says most assets with true underlying utility and value will revert to their mean, which is why he expects both Tesla and Bitcoin to post rallies starting in about half a year.

“Short and succinct, not financial advice, of course, everything mean reverts unless it’s a piece of crap or it’s broken.

Tesla has held up well during the correction and recession incredibly well. While I believe Tesla will hit $1,200 in the next six to 12 months, which is slightly less than double, I also believe Bitcoin could potentially triple in the same timeframe. Six to 12 months, which takes out to summer 2023 and that’s very, very conservative.

The Tesla /Bitcoin pair right now is 0.036. [The] 200-day moving average is 0.024, so technically we are here. I do not expect the pair to go higher than this 0.036 level.”

Regarding Tesla’s future earnings, the chart guru mentions the company will incur a hefty on-paper loss for its current Bitcoin holdings.

“They’re going to get hit hard. They’re gonna have an impairment charge of maybe $450 million dollars. A lot of stuff is hitting them, but they had the worst quarter-over-quarter performance in over two years.

I think that pair will come down, and I think once the bids start coming back… it’s more likely that Bitcoin gets bought up at this level and Tesla could come down, so watch that level 0.036.”

A tip of the hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

Check Price Action

Have a prosperous day, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.