#forecast 035 : The return of the speculator
Welcome to The Bitcoin Forecast #35.
My last letter, written when BTC was at $41.2k, outlined an expectation of price action inside the range of $39k-$47k. Instead, price rallied as high as $55k on strong speculative buying on exchanges. This was against a backdrop of relatively mild activity by investors seen on-chain. Regardless, the n…