According to fractal, RSI and Stochastic indicators, Bitcoin has probably reached the bottom. An instantaneous plunge to lower prices is possible, but so it is a powerful burst up to 7k, so a risky investor might lose the rocket when trying to skim the last dollars. I expect a recovery of BTC during the following months, reaching 10k around September.
Besides that, BTC and other cryptocurrencies such as XRP, LTC and ETH may benefit from a looming financial crisis, appearing as a promising reserve of value while being at their bottom prices. Pay attention to the expected downward trend in SP500 and capital fleeing to cryptocurrencies as potential leading indicators of a great burst in cryptocurrencies. In this scenario, 10k might be reached in less than one month as of the date of a potential stock market crash.
Disclaimer: this is not a financial advise. You are fully responsible of your decisions.
Besides that, BTC and other cryptocurrencies such as XRP, LTC and ETH may benefit from a looming financial crisis, appearing as a promising reserve of value while being at their bottom prices. Pay attention to the expected downward trend in SP500 and capital fleeing to cryptocurrencies as potential leading indicators of a great burst in cryptocurrencies. In this scenario, 10k might be reached in less than one month as of the date of a potential stock market crash.
Disclaimer: this is not a financial advise. You are fully responsible of your decisions.
