Very similar market structures at this point with 2015. I think the market trades between 4500-3200 for the next 8 months and then starts rallying hard. To me it is looking like the low for BTC is in or very close. I still don't think the market drops much below 3000 if it does end up breaking that level.
Fundamentally the market has been holding steady even with some bearish news regarding ETF withdrawal and BAKkT postponement yet again. Fundamentals such as lightening network transaction growth (growing every day) and bitcoin total transactions per day (highest in over a year) are looking strong. Bitcoin hashrate and active addresses continue to improve.
Next growth cycle I believe will push Bitcoin to $250,000-300,000 range fueled by global monetary policy and weakening global currencies through low interest rates or negative interest rates. Look for Bitcoin to become a flight to safety amid weakening domestic economies.
Fundamentally the market has been holding steady even with some bearish news regarding ETF withdrawal and BAKkT postponement yet again. Fundamentals such as lightening network transaction growth (growing every day) and bitcoin total transactions per day (highest in over a year) are looking strong. Bitcoin hashrate and active addresses continue to improve.
Next growth cycle I believe will push Bitcoin to $250,000-300,000 range fueled by global monetary policy and weakening global currencies through low interest rates or negative interest rates. Look for Bitcoin to become a flight to safety amid weakening domestic economies.