8th November 2020 — $8,876 / 5.67

BTC: $15,500
OBTC: $8,876
VG: 5.67

Not much to report on OBTC (though there’ll be a separate post about BTC), though I plan to keep doing an update at weekly closes anyway. We’re continuing to consolidate vaguely in the +5 to +6 region. Already, OBTC has spent more time here than in June 2019, but we’d like to see it consolidate VG for at least 3–6 months to create a solid foundation for the “main bull” phase. Do note that while VG may be relatively stable here, BTC may see wild volatility. As always, all you have to do in this part of the market cycle is… do nothing.

Here’s an updated chart illustrating the constant march of OBTC.

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OBTC

OBTC is an attempt to value BTC using on-chain activity. I’m just a bitcoin investor, not a professional quant, please do not take this conjecture too seriously