Monthly Candlesticks.

So apparently lots of people are making a big deal that if Bitcoin closes higher than this today ($14k or above) that will be the tallest monthly candlestick closing of all time. Seems bullish. Considering there is so little information above that (less than 2 months), technical analysts would have very little information to work off of and we'd likely go into price-discovery mode, as predicted.

Again, there is a lot of uncertainty in the market, but there is also a lot of sentiment out there that the POTUS election and things going on in America aren't going to have a huge affect on the price of Bitcoin, especially in the long term. It is a worldwide market, after all. If we keep our eyes on the prize we can see that hitting all time highs in Nov really isn't that much of a stretch at all. Hitting an ATH monthly candlestick closing is a pretty big deal.

Twitter made sure to let me know that COVID cases are at an all time high today. The implication is that we should blame this all on Trump and vote for Biden. I used to roll my eyes at right-wingers back in the day when they said cliché catch-phrases like "the liberal media", but I'll be damned if this unilateral spin by all these tech companies isn't exactly that.

Seriously though, if Biden loses with all these data companies being in his corner like this, he truly deserved the defeat. I don't wanna hear any of this "lost the popular vote nonsense" either. Yeah, the electoral college is a joke of a system, but given everything that's gone down, Biden should blow him out of the water. If not, so be it. I don't think the elite cares much either way.

Conclusion

The Bitcoin whitepaper is 12 years old today and the network is kicking stronger than ever. Rather than being volatile and engaging in extreme price discovery like we were in 2017, we find ourselves at a nice support level at the moment somehow. Sure, catastrophic events could push the market back underwater, but how long would that last? Even the unprecedented COVID crash in March which was wholly unexpected only took 3 weeks to recover. How long will a recovery take when the entire world is bracing for impact? Probably not much.

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