Long term trends and cycles say this is going south for much longer and deeper. Yeah yeah yeah, this time is different, I know. Saylor and Woods are having a baby named Elon Bulltard. Institutions are adopting this is the mega cycle of mega cycles. I'm an idiot, noob, charlatan permabear, on and on add nauseum. BUT, the underlying canvas of the idea comes from a much smarter publisher who published it in 2017, and the history don't lie.
Agreed, this looks very much like the 2018 bear market start..... a lot of hype and screamers.
I sold 90% of my crypto holdings in april and may 2021, now waiting to re invest at the end of this bear cycle.
My guess is we will bottom between 6.5k and 8k, alts will lose 90% to 95% of their current prices again on the way down.
rezland20
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@cryptodreamer79, There are way too many eyes on Bitcoin now to go that low. Way too many. The average buy in price over the last 12 months is 37.3k. The average rational investor is incentivized to buy below that price
cryptodreamer79
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@rezland20, Investing in crypto with a stock strading strategy...... you'd better be prepared to hold your breath for a couple of years.
Stock dynamics don't work in crypto, nobody looks at a 12 month average.
Bull markets go crazy, bear markets lose 80% to 95% of value, and we are in a bear market IMHO.
10k might do the trick but i suspect this one to go deeper as a financial crisis is luring and the pandemic is far from over.
But hey be my guest and buy @37.3k and prove me wrong :-)
Kushman187
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@cryptodreamer79, "we are in a bear market" said the guy whos proud of sitting out the 22k bullrun(so far)🤣
cryptodreamer79
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@Kushman187, I think you are a bit misinformed, i sold my BTC @ 52.8k just after the peak, so i didn't miss anything so far, in fact we are still under that price whahaha
Kushman187
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@cryptodreamer79, you could've bought the dip & profited huuge off this 22k bullrun though 🤷
cryptodreamer79
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@Kushman187, No thanks, theres a lot of risk as the potential is limited to an X2 or X3 from that dip. I buy and sell cycles, this cycle for me BTC did 12X, ETH did 25X and alts on average did 50X.
I am not in this to make a few bucks taking huge risks.
I'll gladly wait for the next cycle and let the others fight for scraps on the table