It is likely that BTC is forming a perfect head & shoulder even with legs this time... this is a major correction, the past 24 months parabolic growth was not healthy by any means, here is why:
1. A lot of stupid money is flowing in the market, everyone saw the power of BTC (from Zero to 60K) and they think it will make them rich overnight.
2. A lot of shitcoins & shady projects are flooding the market without the slightest regulatory supervision, which gives the perfect opportunity for con artists, scammers, digital thieves to create a coin (quite easy actually) and sell you to the moon dream .... unfortunately a lot of naive people out there believing anything they hear about any digital coin. this is not right!
3. BTC war from China disturbing market dynamics...
4. Governments will have to accept and regulate crypto, when that happens, the market will likely be more mature, more stable with less scammers, less stupid money and more protection for the same stupid people... including all of us. When will this happen... when the decision-makers, ppl in policy and regulatory positions understand the power and force of BTC .. find a way to regulate it....they will need to regulate it.
My fear is that we need another Satoshi Nakamoto to establish a regulatory framework for the 10-year-old BTC for the 1000-year-old financial system and the 100 your old bank system!
US governments (USD) will continue to fight off any currency that may threaten the precious $$$$ and it's dominance and will destroy anything and everything on its path. Long live the $$$$.
What's next:
- BTC likely to retract to 19K level.... this may be a safe zone to buy the dip, in my opinion, I could be wrong (like every other analyst out there)
- Crypto projects that is related to the real economy, like AlGORAND, XLM, VET, CXR and many others will prevail in the long run
- Defi Crypto provides with insane ROI- APY basis will eat your money before breakfast, these you need to be careful with
Look for sustainable projects with existing products and credible teams... long-term winners basically. Those with technology and a business model that you can understand. Only go for that.
If you know how to surf... enjoy the waves.
Otherwise, stay safe.
J
1. A lot of stupid money is flowing in the market, everyone saw the power of BTC (from Zero to 60K) and they think it will make them rich overnight.
2. A lot of shitcoins & shady projects are flooding the market without the slightest regulatory supervision, which gives the perfect opportunity for con artists, scammers, digital thieves to create a coin (quite easy actually) and sell you to the moon dream .... unfortunately a lot of naive people out there believing anything they hear about any digital coin. this is not right!
3. BTC war from China disturbing market dynamics...
4. Governments will have to accept and regulate crypto, when that happens, the market will likely be more mature, more stable with less scammers, less stupid money and more protection for the same stupid people... including all of us. When will this happen... when the decision-makers, ppl in policy and regulatory positions understand the power and force of BTC .. find a way to regulate it....they will need to regulate it.
My fear is that we need another Satoshi Nakamoto to establish a regulatory framework for the 10-year-old BTC for the 1000-year-old financial system and the 100 your old bank system!
US governments (USD) will continue to fight off any currency that may threaten the precious $$$$ and it's dominance and will destroy anything and everything on its path. Long live the $$$$.
What's next:
- BTC likely to retract to 19K level.... this may be a safe zone to buy the dip, in my opinion, I could be wrong (like every other analyst out there)
- Crypto projects that is related to the real economy, like AlGORAND, XLM, VET, CXR and many others will prevail in the long run
- Defi Crypto provides with insane ROI- APY basis will eat your money before breakfast, these you need to be careful with
Look for sustainable projects with existing products and credible teams... long-term winners basically. Those with technology and a business model that you can understand. Only go for that.
If you know how to surf... enjoy the waves.
Otherwise, stay safe.
J