Hey there, and welcome to today's blog update! Today, we're diving into what you can expect this week, especially after the recent bounce in Bitcoin's price. Last time this happened, Bitcoin saw a staggering 200% increase. Could history repeat itself? Let's explore.

Last day:

We're starting the day strong around $63,000, up from below $61,000 just last night during my Sunday blog. Overnight, something sparked a rise in Bitcoin's price. Last week was filled with FUD (fear, uncertainty, and doubt), and it looks like this week might carry a similar sentiment, as FUD tends to linger in the market.

US Stock Market:

The US stock market is opening positively today. For stock enthusiasts, Roaring Kitty's significant investment disclosure in Chewy, linked to GameStop, is making waves. GameStop itself is facing challenges, with the SEC keeping a close eye.

However, let's shift our focus away from stocks. Tomorrow, Powell is set to speak, and Wednesday brings the release of minutes from the last FOMC meeting. These minutes can sway the market, depending on their tone, though they often don't reveal new information.

Bitcoin in July

FUD continues with news that the German government plans to gradually sell off 1,500 Bitcoins, worth $3 billion. Meanwhile, July marks the anticipated start of Mt. Gox's distribution, potentially impacting the market. Historically, July has been favorable for Bitcoin, following a pattern of gains after June's bottoms.

Looking back, Bitcoin achieved seven consecutive green months from September 2023 to March 2024, a first in its history. Despite a slight April dip and mixed results in May and June, Bitcoin held steady around $60,000. Now, entering July, historically a bullish month, we anticipate positive trends.

July has historically delivered gains ranging from 28% to 140% after June bottoms. Could we see a repeat performance this month? Many investors seem confident, evidenced by continued buying from entities like MicroStrategy, El Salvador, and even Sony.

The Fear and Greed Index currently sits at 53 (neutral), yet last month, it plunged to 30 amid high Bitcoin prices, reflecting significant market fear. Curiously, Bitcoin saw a 200% bounce the last time fear levels were this low, suggesting a potential bullish outlook.

Considering Fibonacci retracement levels, Bitcoin's potential peak this cycle could range from $250,000 to $410,000. Midway at $300,000 isn't far-fetched, given past cycles.

Looking ahead, the Bitcoin 2024 conference from July 25th to 27th could serve as a catalyst for further market positivity.

Let's dive into some Q&A highlights:

• Roaring Kitty Trouble: Facing SEC scrutiny over GameStop and Chewy investments.
• Avalanche Potential: Poised for another all-time high this cycle.
• Fear and Greed Index: Despite high Bitcoin prices, market fear remains evident.
• Polygon's Status: Not dormant; recent billion-dollar grant signals ongoing plans.
• Cybertruck Reservations: Reviews are in, pricing around $80,000.
• Travel Plans: Extensive global travel plans for industry events.
• Bitcoin Conference Tickets: Pricey but discounted options available; geared towards industry professionals.

Stay tuned as we navigate an exciting week ahead in the crypto and financial markets!