As of the time of this post it appears that Bitcoin is poised to explode. The daily chart is not only showing two days of consecutive gaps, but everyone’s favorite J-Hook appears to be forming. Could be some retracement over the next 24 hours but it is looking like it’s going to be an explosive weekend for the top coin in town. No telling what to expect once those higher highs start attracting big money.
Mining profitability will likely skyrocket as the bulls begin to stretch their legs. If this is truly a new bull market, it looks like it could run right into the next halving possibly extending or amplifying it. If you’ve had your miners idle, it’s about that time to fire them up again. Uncertainty is looming in the global and US markets which could bolster the cryptocurrency market and China is cruising into it’s rainy season which means cheaper electric for miners. The perfect storm for bulls may already be forming.