25th October 2020 — $8,488 / 4.63

BTC: $13,042
OBTC: $8,488
VG: 4.63

25th October 2020 marked the highest weekly close since 8th January 2018. In my previous update, I noted that BTC had the second-highest daily close in 1,010 days. Since then, BTC has closed four consecutive days at its highest level since 15th January 2018. VG remains around 4.63, signifying we’re reaching the tail-end of the accumulation phase. Depending on who you ask, you may consider this early bull market, or prelude to the bull market.

Of course, as always, do remember that BTC is a nascent, risk-on asset, and the global economy and traditional find themselves in an unprecedented combination of all-time low interest rates *and* risk-free bond rates, all the while raising inflation targets to their highest in decades. Hypothetically, this is the perfect storm for a hard asset like BTC, but do prepare yourself for the possibility of some severe volatility in the short-to-medium term.