So, simplest one is a 5 wave downward movement, we are about to do wave 5 down to somewhere around 7 thousand. Simple
Or, we do an equal measured move - on the log scale! from the 17k beartrap down to 3k and change
or we do an equal measured move - log scale still - from the 20k ATH down to 1800 - but yeah, that is probably not going to happen. Probably.
3k is on the table for me tho, and I say that as an absolute evangelist of crypto generally.
What I think will happen is that right around 4-5k people are going to say: You know what, I don't buy it, and instead of selling bitcoin for dollars, they will sell them for altcoins, and they will stay in altcoins.
Bitcoin will never regain supremacy, it will remain the largest coin for a while but we'll see it decline from near 50% of total crypto market cap to 15% by the end of the year.
Or, we do an equal measured move - on the log scale! from the 17k beartrap down to 3k and change
or we do an equal measured move - log scale still - from the 20k ATH down to 1800 - but yeah, that is probably not going to happen. Probably.
3k is on the table for me tho, and I say that as an absolute evangelist of crypto generally.
What I think will happen is that right around 4-5k people are going to say: You know what, I don't buy it, and instead of selling bitcoin for dollars, they will sell them for altcoins, and they will stay in altcoins.
Bitcoin will never regain supremacy, it will remain the largest coin for a while but we'll see it decline from near 50% of total crypto market cap to 15% by the end of the year.