Stablecoins in circulation grew ~6x - from $5.8B to $33B in 2020.

2021+ will be explosive with the launch of Diem (Libra) & rise of decentralized stablecoins (Frax, Fei, ESD et al).

Just like email made the Internet mainstream, stablecoins will onboard billions to crypto.

Grayscale adds 3,544 BTC over the past 24 hours, worth $118 million. Over the past 7 days, Grayscale has added 29,598 Bitcoin worth close to $1 billion.

Coinbase has reached 43M users, with +$90B assets.

During previous bull run, Coinbase user growth was a popular metric for measuring retail money entering the market. Over the past 6 months, the number of users has risen by 22%.

Currently, this is not the best looking monthly candlestick.

We have 7 more days to make it looks a little bit better.

Don’t get me wrong, the world won’t end if we don’t push the price higher and make this look better but we could see more red days in February that would test the strength of this uptrend.

Waiting for a month to end to make a forecast for next month.

Mining difficulty hit historical maximum. Block competition is at its limit.

ETH/BTC ready to go parabolic 🚀

Alt season coming?

The total amount of capital inflows into Bitcoin  in the past 30 days (as estimated by realized cap), is as high as the whole BTC market cap in Sept 2017 and early 2019: ~$70 billion USD

Bitcoin held on exchanges has dropped 2.4% over the past 30 days, with 37,626 BTC worth $1.19B leaving exchanges.

Also over the past 30 days, over 140 new whale addresses with over 1,000 BTC were created, controlling $4.4B combined.

Nasdaq-listed company, Marathon Patent Group, today announced that it has purchased 4,812 Bitcoin for around $150 million.

💼According to its new SEC filing, Rothschild Investment Corporation has increased its exposure to Bitcoin by 24%, now holding 30,454 shares in the Grayscale BTC Trust.

Grayscale adds 995 #Bitcoin over the past 24 hours, worth $31.5 million. Their total Bitcoin AUM is currently $21.13B.

Bitcoin to $50k?

Technically looking, this is looking like a flag.

We still need to get confirmation in form of bullish breakout, but if that happens the target will be new all-time high.

The Strongest Stage of The Crypto Bull Market Is Coming

https://bloqport.substack.com/p/the-strongest-stage-of-the-bull-market?utm_campaign=post&utm_medium=email&utm_source=twitter

If Bitcoin is bullish, the price has to find support in the green box.

The move below would endanger the bullish trend.

Massive 100k bitcoin options expiry at Deribit coming up in two days, max pain $28,000.

Bitcoin update

Waiting to see how it reacts to the green area.

If it holds, we should see green days/weeks!

Here we go!

We’re testing support area!

ETH/BTC ready for 🚀

ETH/USD could reach easily $2000 in next 2 to 3 weeks.

You heard it here first!

Bottom is ours 🚀

This could mean altcoin season is coming for ETH based projects and also DEFI projects but not the all the altcoin market.