Bitcoin: 12,300 Peak Could Be the Highlight For a While
Earlier this month I put in what I feel is a likely scenario for Bitcoin despite it representing a likely unpopular notion since many people seem to be perpetual crypto bugs.
I believe Bitcoin has posed its highest peak with no new record succeeding 14,000 for a few years; therefore, I believe the most recent 12,300 and change, peak, was its latest hooray with likely successive peaks at 11,800ish, 11,350ish and 10,850ish with more significant corrective action afterwards.
One of the reasons as I have previously noted in the "related idea" as to my bearishness of crypto is not because I believe there is something perpetually immoral about it like others have touted, but rather, the overall timing of the global economy which will make big money investing (hence big volume) unsustainable and an unlikely scenario.
Crypto is far too risky, unpredictable and volatile as an effective and efficient hedge despite what people on TV try to persuade the average investor into thinking and as such I continue to believe that big money manipulates the price at certain intervals to sell-off at peaks and continue to enter long in Gold and Silver particularly.
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While I see crypto being the future, I believe its future will be put on hold until we revive from the next recession which may not be until 2022, 2023 or 2024.
Trade at your own risk and be cautious.
- zSplit
I believe Bitcoin has posed its highest peak with no new record succeeding 14,000 for a few years; therefore, I believe the most recent 12,300 and change, peak, was its latest hooray with likely successive peaks at 11,800ish, 11,350ish and 10,850ish with more significant corrective action afterwards.
One of the reasons as I have previously noted in the "related idea" as to my bearishness of crypto is not because I believe there is something perpetually immoral about it like others have touted, but rather, the overall timing of the global economy which will make big money investing (hence big volume) unsustainable and an unlikely scenario.
Crypto is far too risky, unpredictable and volatile as an effective and efficient hedge despite what people on TV try to persuade the average investor into thinking and as such I continue to believe that big money manipulates the price at certain intervals to sell-off at peaks and continue to enter long in Gold and Silver particularly.
--
While I see crypto being the future, I believe its future will be put on hold until we revive from the next recession which may not be until 2022, 2023 or 2024.
Trade at your own risk and be cautious.
- zSplit
Why stay in Bitcoin when Gold/Silver are on the verge of a historic/epic run?