Feeling the Heat: Bitcoin Temperature Rises to 3.4

The BTC Lighthouse Temperature has moved from 3.0 last month to 3.4. It is on its journey from the neutral zone to the greed zone.

Even at current levels, I am bullish about the bitcoin price for 2024. I will not be surprised by Bitcoin price highs of $150-250k in this price cycle, especially considering the supply and demand shocks from Bitcoin ETFs.

I agree that Bitcoin is not cheap anymore like it has been for the past two years. But it is not overpriced either, and that is reflected in our temperature.

If you are an existing Bitcoin investor, this might be the highest level you might still consider buying. Ideally, it's a pause for you.

However, if you are a new Bitcoin investor and still planning to increase your allocation, the ideal strategy now is to dollar-cost-average. Bitcoin is no longer cheap. You have to mentally prepare yourself for any price drops in the short term that may or may not happen. However, you are still in a good position to buy Bitcoin for the long term.

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Bitcoin is the future of money. I have been saying it since 2015. You are still not late.