Before we dive into Helium’s new token and what it could mean for investors, miners, and adoption of the “people’s network” let us first recap how Helium became the world’s largest decentralized network of long-range radio hotspots dedicated to the internet of things and beyond.

Helium’s hectic history - 2021 the year of explosive growth

Yesterday Bitcoin was in the midst of a rally that brought it back above $30,000 due to new data coming out re-igniting fears of a banking crisis when it had a sudden downturn that wiped away all of the recent gains in just about an hour.

Most people that have any knowledge of Bitcoin and cryptocurrencies in general understand the concept of what a “halving” is. Halving refers to an event in which all the new coins produced on a blockchain are cut in half. Although Bitcoin is not the only cryptocurrency to have a massive deflationary aspect in its code, but it did indeed invent this idea of a halving mechanism.

Bitcoin may be well on its way to $35k

According to A Fibonacci retracement from the all-time highs (Nov. 2021) to the lows hit exactly one year later (Nov. 2022) BTC has just breached the first significant retracement level this week. 

In our last article, we spoke about the possibility of a pivot from bearish to bullish and even an end to the crypto winter if Bitcoin was able to trade and hold above $26,000.

Bitcoin has gained around 18% over the last three days after reaching support at $20,000 on Friday. This comes on the heels of major banks collapsing and the US government quickly stepping in stating they will protect depositors in full.

Bitcoin is on third down at the 9th yard line, 4 points behind the challengers (team FUD) at the fifth edition of the new world currency wars. The goal line is represented by Bitcoin’s 200-week simple moving average. The simple fact is that all Western Traders would agree that a market of any sort trading above its 200-day simple moving average was indeed in a long-term bullish trend, i.e.

Bitcoin broke through its support level today opening the door for lower prices. The lost level of support that could now turn into resistance is at $22,500 and is also exactly were the 20-day exponential moving average is.

The most recent rally in Bitcoin last week brought BTC back above $20,000 and erased much of the “price” damage done by the FTX collapse, though many have called last week’s move market manipulation, I think that’s just an easy way of saying you don’t know why a market is moving.

Bitcoin kicked off the new year at $16,531 (Coinbase) and closed on the first day of January only $10 off of the highs at around $16,620. Closing on the highs was just one clue that BTC was about to turn bullish.