Bitcoin's Bull Bonanza

Bitcoin's Bull Bonanza

Tim Knight  | Oct 12, 2017 09:41AM ET

One of my most ironic posts has to be the one I did back in January, titled, Bitcoin’s Massive Bullish Base, which featured this chart:

Bitcoin/U.S. Dollar

The entirety of the post’s text follows:

I’m not even going to try to understand the logic, but well-encrypted 1s and 0s of imaginary currency have formed an astonishingly-clean basing pattern, suggesting much higher prices ahead.

The irony, of course, was that (1) it was a bullish post and (2), I’ve never touched bitcoin in my life.

Since then:

Bitcoin/U.S. Dollar

This chart requires some updating based on the past few hours.

Bitcoin/U.S. Dollar

Yep, a new life-time high.

I don’t really have an opinion related to bitcoin, now, except to offer congratulations to those who have made money off this crazy beast.

Tim Knight

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