Market Watch: May 30, 2020

Bitcoin is still oscillating upward pretty consistently. At this point we'd have to drop down to like $8000 to break this uptrend. I highly doubt that's going to happen considering how much money is sidelined right now and just waiting to jump in for an economic reopening.
2020 Bitcoin Doubling Curve
Jan Feb Mar April May June
$6933 $7467 $8000 $8533 $9067 $9600
July Aug Sept Oct Nov Dec
$10133 $10667 $11200 $11733 $12267 $12800

Bitcoin hit that local bottom on May 25th at $8700. We see once again that the doubling support line is back in play but remains tenuous at the moment. I'm guessing that will all change once the economy reopens. That is especially true considering summer is normally a great time for crypto and the economy in general. We haven't had a big run up in pretty much a full year all the way back to the Bakkt hype. This market is ready.

Normal people (not me) are going stir-crazy from this lockdown.
They are also depressed. I haven't taken a single sip of alcohol for months. Meanwhile, I'm hearing reports that a lot of people are drinking like every day.

Count on a fishtail backlash once citizens are allowed to leave their houses again.
This was exemplified on my way home from work. I was listening to some random radio station listing off all this crazy news that was going down, and one of the topics was that someone is organizing a straight up orgy for when the lockdown ends. Honestly, I'm thriving in this environment, so it's good to remember that personal experience is often not the common experience.
Seriously though!
I forgot to mention this, but the day before the Bitcoin halving I was walking out to my car after a long shift talking to someone that has worked there as long as I have but we had never spoken since right then. She talked about all the weird energy being out in the world right now and the return of Jesus and stuff. There was also this crazy looking bloodmoon on the horizon. I wish I had taken a picture of it.
So Yeah...
I can't even remember the last time I saw a rainbow, let alone a double rainbow.
Not sure if I've ever seen a double rainbow; thought they were made up :D
The picture isn't great but it is there.

Just so happen to see one on the day of the Bitcoin block halving?
So weird.

Not only that, as I've already mentioned a few times I've been seeing the numbers 666 like everywhere. I'm not superstitious or religious. I don't believe in luck. I'm a scientist and a poker player. But honestly, this is getting ridiculous. Even my dad had his 66th birthday recently and randomly talked about how he doesn't like that number, and he's not religious either... like wtf? heh.

In any case, there is some crazy energy out there in the world right now.
Be on the lookout for it.

bitcoin