I really think the price won't get any lower. People in financial problems has neven been higher, doesn't make sense to make btc cheap again. We will go sideways for months and months (with some beartraps) ... Just buy every month and forget about it, look back the soonest in 2024 ... You will thank me later ;)
@arviiine, xD everything is possible mate :) But I hope not and if so I will buy more =D
CryptoidiotQ
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of course it's going lower, your doing a halving cycle based prediction but ignoring that were only half way thru with the dump phase of said cycle. On a related note, this is the first time that the log curve and stock to flow models have been invalidated, both strongly tied to the halving cycle. We only got up about half as high as we should have gone compared to other cycles. this and a whole bunch of other global market factors are telling me that were in bubble popping territory, and that the next halving will likely be a serious letdown. I'm eyeing 7k-14k (likey around 12k) as a potential range for the bottom, but we could see catastrophic price reductions below that depending on how bad of a recession we fall into in the larger economy.
Of course, things might not be so doom and gloom, but I can think of a few bubbles that are all ready to pop at the same time, and I see the current state of things, and it's clear to me that there's rocky roads ahead.
I_simply_am_not_there
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@CryptoidiotQ, Thank you for your opinion mate! The only thing I'm worried about is a blackswan event. But anywhy this will be bought up within weeks and we back on track after :)
CryptoidiotQ
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@I_simply_am_not_there I hope your right, I just saw spooky rejections and important levels lost/not reached during that bull run and it's shattered my normally very bullish confidence with this asset.
I_simply_am_not_there
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@CryptoidiotQ, Me to xD Ye very true, my conclusion is nobody knows what the price will do ... Not possible to plan the top or the bottom. Also to many ppl into crypto last bullrun. This make me think the price will go sideways long long time till ppl get bored and start selling. Also life will be more and more expensive so ppl just will not have the money to spare to buy (more). When price was at 60k LOT of ppl asking me how to buy bitcoin. Now price is at 20k and nobody wanna buy, everyone bearish ... My plan is to buy more every month with my savings and set my mind to 2024 :) Good times coming if you have a realistic timeframe. Aslong the max amount bitcoin is 21mil and the price is based on the marketcap/max amount I wont stop holding bitcoin. (I also have altcoins ofc)
CryptoidiotQ
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@I_simply_am_not_there, I'll just say, my gut and my TA are both telling me that it's not safe to buy now and it probably wont be till at least September, based on timing from previous crash events in both crypto and the more general stock markets.
It's like, I'm happy for the crash, I got out right after we lost 60k again because the chart pattern and bear divs from hell that I saw so I'm positioned to take advantage of the crash in a big way, but seeing it dip below the bottom line on my log curve lines was disheartening, to say the least. I still believe in btc, but I gotta say, I don't believe in 100k+ btc anymore. The volume DIES when the price starts to get up there a bit. In previous cycles the previous cycle peak was always a reliable bottom for the next cycle, but now we've violated that "rule" that a lot of crypto guys always talked about. All the old reliable signs and signals finally stopped working this cycle and normal TA started to work more than ever. And if that continues to hold true we're going to lose 10k or at least getting really really close. The bubble is popping and I dont like it lol.
But you know, just how I see it. It's like buy back in, but make sure you do it after everything stops being so volatile and dangerous. There's generally a big horizontal boring period before prices dip a bit one last time and then improve, that's what I'm waiting for. Hopefully that doesn't change too much compared to previous cycles.