Bitcoin BEARISH?! Here is the ANSWER.
Disclaimer: This is a Newbie analyses with no past Experience!
Few Points Supporting a BEARISH scenario for Bitcoin and the rest of coins:
-The Chart above shows the total Cryptocurrency market cap, which hints to a similar crash of 2018 being repeated (Green Rectangle/Red Rectangle).
-Recession, which it has started already (low GDP growth, High interest rates, Spike in the price of goods and services in general, lower properties being sold)
-War (Ukraine x Russia)
With all this considered, we might see Bitcoin plummeting to 21k (USD) Level, and even 11k level later on.
However, this is the first time in history that Cryptocurrencies are faced with a recession, hence the effect is unknown. They might follow the stocks behaviour during a recession (Falling, Most Likely). OR, we might see that more people are investing in crypto and choosing it as a safer asset during recession (less likely).
This is not a financial advise!
Please comment your ideas about the analyses as I am new and want to learn from your experience and knowledge.
Appreciate your constructive comment and feedback in advance.
Few Points Supporting a BEARISH scenario for Bitcoin and the rest of coins:
-The Chart above shows the total Cryptocurrency market cap, which hints to a similar crash of 2018 being repeated (Green Rectangle/Red Rectangle).
-Recession, which it has started already (low GDP growth, High interest rates, Spike in the price of goods and services in general, lower properties being sold)
-War (Ukraine x Russia)
With all this considered, we might see Bitcoin plummeting to 21k (USD) Level, and even 11k level later on.
However, this is the first time in history that Cryptocurrencies are faced with a recession, hence the effect is unknown. They might follow the stocks behaviour during a recession (Falling, Most Likely). OR, we might see that more people are investing in crypto and choosing it as a safer asset during recession (less likely).
This is not a financial advise!
Please comment your ideas about the analyses as I am new and want to learn from your experience and knowledge.
Appreciate your constructive comment and feedback in advance.
