Peak HODL
There are a handful of points in every cycle, where supply really constricts, and HODLers tighten their grip, forcing the price to move higher. This is Peak HODL, and it feels like we're there.
G’day Folks,
I love analysing Bitcoin data.
I enjoy it so much, that I left my civil engineering life behind, and worked for several years to build the skills, knowledge base, and ultimately a business in the field.
When onchain data first started emerging in 2019, I was glued to it, downloading all sorts of weird papers and metric ideas, printing them out, and pouring over them for hours at a time. Something about it felt incredibly useful, even if I couldn’t quite understand why.
I now recognise why I was so fixated by it; the data helped me visualise what was happening, and I no longer felt as uncertain about WHY things in Bitcoin happened.
This is the most central idea that sits at the centre of the Checkonchain project.
I don’t want any of us to feel like a deer in the headlights when something chaotic, exciting, terrifying, or euphoric happens. If you spend enough time in Bitcoin, you will have experienced all of these feelings, often in short succession.
With Bitcoin trading above $108k, the bulls appear to be firmly in control, and that means we need to be thinking about where the next leg of this Bitcoin bull is headed.
The euphoria stage of the Bitcoin bull is where things can get a bit crazy. Supply tightens up, demand inflows become increasingly aggressive, and the market really starts to run in response.
It’s time to look up, and think through where the price zones of maximum risk are likely to be located.
The goal is not to predict the future, but instead to prepare for the scenario such that IF we get there, we’re not stunned, and not frozen like a deer in the headlights, drunk on narratives and euphoria.
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.
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