Bitcoin’s stability is bullish for the asset

Bitcoin futures are falling down a slightly negative slope and the fact that they have fallen and remained under their 50-day moving average confirms that further sideways action is to be expected with a slight downward slope.

I believe we could easily see this continue for the rest of this month until eventually bouncing off of the 200-day moving average and then making another play for $10,000.

We have really seen Bitcoin mature and have a stability of price that is beyond belief in a time like today. With wild market swings and meltdowns in some cases due to the global pandemic. Amidst all of this financial chaos Bitcoin has seemingly found itself and in the last three days has shown less volatility than pretty much any major index or precious metal. It is almost on point with the U.S. dollar in terms of volatility.

I have calling for this for as long as I have been following Bitcoin. I am referring to my prediction that Bitcoin will eventually mature and shed its volatility to a point were more fish, bigger fish and institutions will feel comfortable enough to get into this market. So first comes the stability which we may have just entered. Then Bitcoin will enter a long stagnant phase or even a correction before ultimately ascending to new all-time highs.

But for now, I would recommend staying out of BTC futures for the time being until the end of the month. Instead either trade in a physically settled futures exchange such as Bakkt, ledger-x and others or simply buying and holding Bitcoin in hard wallet or cold storage.