Market Before The Open, Monday 11 November
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We Are All Bitcoiners Now
by Alex King, CEO, Cestrian Capital Research, Inc
Bitcoin just grew up.
I don’t know whether there will be a US Strategic Bitcoin Reserve or not, but the very fact that this is under discussion has sparked a rally in BTC that is both sizable and powerful. Bitcoin 2024 is not like Bitcoin 2020. The plumbing is now controlled, to a degree, by Wall Street 1.0, being BlackRock and others. It is showing signs of trading according to institutional patterns, which means standard securities analysis is a little more useful than it was. And I would expect it to continue to drift into mainstream financial holdings. That doesn’t mean it won’t be volatile, of course, but that is rather the opportunity.
If you’d like to learn more about Bitcoin’s brave new world, take a look at a service I’m proud that we host, which is YX Insights from Yimin Xu. Yimin is an institutional rates trader by background and brings to the topic a cold-eyed analysis of how Bitcoin moves. He is neither crypto-bro nor crypto-skeptic. Which is why I personally use his work for my own understanding, investing and trading in Bitcoin. (I am long $IBIT, for disclosure).
You can learn more about YX Insights, here: