Sell signals on charts. Likely move down to around $3,000 or lower.
Bitcoin is in a long term bear market. I have covered this before but bitcoin is at best another fiat currency just like the dollar, yen, Swiss frank, euro etc. So anyone buying it as a store of value long term (thinking it will protect them from inflation) is gonna lose. Bitcoin was designed by the founders to fix the fractional reserve banking problem, not the fiat currency problem. Just like any other fiat currency bitcoin will go down 99% priced in Gold. In terms of Gold bitcoin peaked at 15.5 meaning it took 15.5 oz of Gold to buy a bitcoin now it only takes 5.4 oz of Gold to buy a bitcoin. I said even back when bitcoin was at $13000 that 1 oz of Gold would eventually pass 1 bitcoin. Bitcoin is down 65% in terms of Gold and it will never come back. Assuming Gold doesn't go up more, bitcoin would have to go up to $26,768 just to get back to the old high. I can cover this more if people want me to. It is possible that the dollar could fall faster than bitcoin, but bitcoin won't keep up with Gold anyway.
Bitcoin is in a long term bear market. I have covered this before but bitcoin is at best another fiat currency just like the dollar, yen, Swiss frank, euro etc. So anyone buying it as a store of value long term (thinking it will protect them from inflation) is gonna lose. Bitcoin was designed by the founders to fix the fractional reserve banking problem, not the fiat currency problem. Just like any other fiat currency bitcoin will go down 99% priced in Gold. In terms of Gold bitcoin peaked at 15.5 meaning it took 15.5 oz of Gold to buy a bitcoin now it only takes 5.4 oz of Gold to buy a bitcoin. I said even back when bitcoin was at $13000 that 1 oz of Gold would eventually pass 1 bitcoin. Bitcoin is down 65% in terms of Gold and it will never come back. Assuming Gold doesn't go up more, bitcoin would have to go up to $26,768 just to get back to the old high. I can cover this more if people want me to. It is possible that the dollar could fall faster than bitcoin, but bitcoin won't keep up with Gold anyway.
