Historical Data suggests move back in to 28k - 42k range for BTC
Mapping the 2018-20-2020 bear market with adjusted time scale and support levels, we can see that a move back into the 28k-42k range is possible for BTC.
I see sideways movement in that range for a while, as I believe it is a fair price for the asset to date.
Many factors support this:
- Economic growth starting in tech companies
- British Prime minister PRO crypto (one of the biggest financial hubs in the world), looking into CBDCs and will most likely (in my opinion) have Fiat backed by BTC (Can't see it happening with other cryptos tbh)
- Elon buys Twitter - Doge implementation
- Major upgrades to ETH, ADA, and other cryptos could spark BTC's move to the upside
- Talks about the Ukriane-Russia situation suggest that an agreement will be made in the coming months (a big factor in the rapid price decrease of BTC earlier this year.
The list goes on...
I see sideways movement in that range for a while, as I believe it is a fair price for the asset to date.
Many factors support this:
- Economic growth starting in tech companies
- British Prime minister PRO crypto (one of the biggest financial hubs in the world), looking into CBDCs and will most likely (in my opinion) have Fiat backed by BTC (Can't see it happening with other cryptos tbh)
- Elon buys Twitter - Doge implementation
- Major upgrades to ETH, ADA, and other cryptos could spark BTC's move to the upside
- Talks about the Ukriane-Russia situation suggest that an agreement will be made in the coming months (a big factor in the rapid price decrease of BTC earlier this year.
The list goes on...