Weekly Thots on Bitcoin - WEEK 41
weekly thoughts on bitcoin by trevor balthrop crypto enthusiast

Weekly Thots on Bitcoin - WEEK 41

By trevorbalthrop | Trevor Balthrop | 13 Oct 2020

Welcome to another week of twerk-filled Bitcoin!

Every Monday a new post is published to Publish0x here to discuss current thoughts regarding Bitcoin & Crypto News.

Each discussion looks at Bitcoin historically, currently, and futuristically.

Greeeeeeeeat, get on with it. Well!

Past, Present, and Future will be used every week to represent thoughts on Bitcoin.

These are 100% opinions meant to inspire and educate.

That Hodl Over There = T.H.O.T. = Thought

This week's thoughts about Bitcoin!

Bitcoin's Past

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Bitcoin Yesterday


Bitcoin's price yesterday led to the end of a slightly more volatile week in the $11,250 - $11,450 range.

This marked the end of one fomo of a week for many as the price continues to climb.

We learned quite a bit yesterday as the price closed higher than expected.

It was only inevitable that we see some some sort of large move in either direction with Bulls taking the win on this one.


Bitcoin Last Week


Last week the Bitcoin price ranged between $10.7k steadily climbing to $11.4k USD

As far as news went, a lot of really interesting things happened so if I had to pick one out of hat.

I would pick out the fact that news pointing to waves of more Investor accumulation of Bitcoin led to what we are now seeing today.

The Whale Thots were forming in nearby water gearing up for the week ahead of it.


Bitcoin Last Month


September was a cliffhanger that left Crypto markets mostly red especially for Alt Coins. 

The high for the month was roughly $12k right smack at the beginning of September.

Drops down with significant volume eventually confirmed $10k USD as support.

The CME gap did not get filled at $9.6k and we recognized the fact that Bitcoin has held above $10k USD since July 27th!


Bitcoin Last Year


Last year around this time, the price of Bitcoin holding above $8k for most of the month of October.

We were still in Pre-COVID times and pondering the idea of Bitcoin maybe hitting $9k again.

There was of course not as much pressure on the economy and uncertainty, however, there was still not yet as far as regulation goes.


Bitcoin's Present

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Bitcoin Right Now

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As of the time of this writing, the Bitcoin price was at $11??????


Bitcoin Today


Earlier today we saw a quick retest down that was swiftly rejected with a breakout upwards.

Congrats to anyone who may have made good trades off of this movement.

New CME Gaps have formed in addition to the lingering $9.6k CME Gap that never got filled. 

These tend to get filled quicker rather than later so definitely be careful!

Keep in mind though, this actually has the potential to keep making more legs up similar to what we saw back going into August.


Bitcoin This Week


Ending Week 41 and kicking off Week 42 of Bitcoin Thots we see like we have seen today, further breakouts are underway.

As Bitcoin continues to breakout or return to being squeezed you can probably expect a lot of activity this week.

Not just for Bitcoin either!

This week kicks off what could be another consolidation period as we see alt coins started to rise with Bitcoin like normal again.

The week just start though & I have to remind you pleeeeease be careful people!

It's Whale Season.


Bitcoin This Month


So far October has been invigorating whether or not that means you missed out on this run up.

Since there has been quite a lot of talk about a CME Gap at $9.6k, it's important to point out that it still has not been filled.

This month we are 12 days into Bitcoin things with new highs being painted so far.

This month we will have to see if things end upside down or right side up.


Bitcoin This Year


The year 2020 has been a testy one for Bitcoin and the beautiful cryptocurrency has held its own.

It has proven itself worth of a global pandemic that has come just in the nick of time likely saving tons of those that found it useful.


This year we have not seen the price of Bitcoin break last year's record high.

That's not a bad thing though and in Bitcoin's defense Covid-19 really made that reality a dream really quickly for us this summer.

The year is most certainly not over yet and with more months to come we are destined to see some pretty historic movements to the upside still.

Basically speaking, this year we should still be watching out for breaking last year's high.

Never rule out the potential for some downside again as we could potentially see something catastrophic.

In the event something catastrophic happens the furthest I see it going down is $6k.


Bitcoin's Future

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Bitcoin Tonight


The price for Bitcoin has risen where we now wait to see if Bitcoin will decide what it wants to do.

We might be able to ride the trends people but never forget!

Bitcoin has a mind of its own and tonight anything is bound to happen with the price.


Bitcoin Tomorrow


Our Thots on Bitcoin for tomorrow shouldn't change awful much.

Expect to continue to see slightly more volume than we have been seeing which really just means larger price swings.

With so much happening so quickly, sitting out on the sidelines tomorrow is totally understandable.


Bitcoin Next Week


When we go into Week 42 we should have a lot more answers to some of our questions here.

I know I didn't ask any questions!

Although, I know we will always question so feel free to comment them below & I can reply back.

For now the question remains, "When will Bitcoin stop going up?"

Now nobody can tell you when for sure obviously but to prepare mentally we can see


Bitcoin Next Month


With how October has gone so far, next month is looking more unpredictable for now.

November happening it will be interesting to see how everything plays out.

If hunches are a thing, I am expecting price targets of either $13k+ on the upside or $10.1k on the downside.


Bitcoin Next Year


As 2020 continues to reach the final stretch in the coming months here.

The price for Bitcoin next year is already shaping up really REALLY nicely.

Historically Bitcoin and other similar assets perform a certain way according to what they have already done in the past.

When that happens the price of Bitcoin & other assets like Ethereum will jump very promisingly.

The halving in 2020 will be full past us.

The Covid-19 situation will be mostly past us.

The US Election will be past us.

The markets will have a lot more confidence and certainty.

Economies around the globe should be a hell of a lot better.

These things and so many other factors will lead to another era of Cryptocurrency adoption.

New investors flood the scene who saw their friends become successful.

Then next year 2021 will be an exciting time for Bitcoin and the Cryptocurrency world!


Thank you for reading!

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Official Website: https://www.trevorbalthrop.com | Bitcoin ₿ | Blockchain | Author on Urban Dictionary | CEO of www.DrinkingGames.beer | First teenager hired to work for Google back in 2011 |

Trevor Balthrop
Trevor Balthrop

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