Bitcoin Path in 2022 - more pain, relief bounce and again pain.
Here's what I expect from Bitcoin in 2022.
As much as I didn't like Trump as a president, I have to admit that he had a unique charisma, and his optimistic public expectations helped the stock market. Well, we all knew that printing money isn't going to get better in the long run. At some point, you have to give back the "gifts" (printing money) and what we're seeing now is a boomerang effect. The geopolitical crises are not going to help either. All things considered, Bitcoin won't perform great in this environment. I would love to see how it decouples from the rest of the market, but unfortunately, that is wishful thinking. So, here's what I expect:
1. At the end of January-February 2022, we might still drop and probably hit the low areas of 27-29k as we did in May 2021.
2. March-May 2022, markets could see a relief rally and Bitcoin head towards the 50k area, and that would be the point where it forms a Head and Shoulder pattern, and this would be the point where I will probably exit all my positions.
3. June 2022-a a slow drop towards the 20k area, a slight bounce, and in Q1 2023, max pain with Bitcoin going under 20k.
4. There is also a good part of this. We might get the chance to prepare better for the next bull run. I will start investing small amounts in projects that will continue to build regardless of market conditions.
We will see how it goes, but I expect a bear market. Keep in mind that I would love to be wrong, but I don't believe we can go "only up."
As much as I didn't like Trump as a president, I have to admit that he had a unique charisma, and his optimistic public expectations helped the stock market. Well, we all knew that printing money isn't going to get better in the long run. At some point, you have to give back the "gifts" (printing money) and what we're seeing now is a boomerang effect. The geopolitical crises are not going to help either. All things considered, Bitcoin won't perform great in this environment. I would love to see how it decouples from the rest of the market, but unfortunately, that is wishful thinking. So, here's what I expect:
1. At the end of January-February 2022, we might still drop and probably hit the low areas of 27-29k as we did in May 2021.
2. March-May 2022, markets could see a relief rally and Bitcoin head towards the 50k area, and that would be the point where it forms a Head and Shoulder pattern, and this would be the point where I will probably exit all my positions.
3. June 2022-a a slow drop towards the 20k area, a slight bounce, and in Q1 2023, max pain with Bitcoin going under 20k.
4. There is also a good part of this. We might get the chance to prepare better for the next bull run. I will start investing small amounts in projects that will continue to build regardless of market conditions.
We will see how it goes, but I expect a bear market. Keep in mind that I would love to be wrong, but I don't believe we can go "only up."
Comment:
Unfortunately, I was right. Currently BTC is at 16777 and the FTX drama just started, along with SOL dumping. More blood coming.