Maybe so, but the cryptocurrency markets (like the sharemarkets) thrive on investor confidence and cheap money. When events happen which shakes peoples confidence in a product (even if it does not affect them personally) then the inevitable scramble to get out of that market insures. The shitshow has not even properly started yet, so we will have to wait for higher interest rates and stock market correction for cryptos to find their true value. And I would not like to be holding cryptos when that happens.
If it takes a fat dump maybe so! The measured move for the head and shoulders puts it down around 17k if it breaks through the 30k mark.
It's in the buy zone ($38K - $48K) if we see evidence of a correction, if it falls below $38 I'd hold off and wait to see what happens.
Yes, the collateral damage does not matter to those who run the financial markets, the musical chairs show must go on regardless of the eventual outcome. And we must all play our part and hope we are fast enough to find a chair when the music stops. Or we can exit the system altogether and watch the unfolding entertainment show from the sidelines for free
BTC seems to have stabilized a tad, but where to next? I would be very happy with the opportunity to top up sub 31k.
I swear there has to be a market for a Schiff meme coin....Punters would buy it at USD100.00 a coin just to poke fun at Schiff. Peter Schiff NFT's of his BTC calls would also probably generate a few ETH on sale sites. Here's the first NFT. (Note: original image from google but just used an as example)
If it drops to $35k USD I looking to get in for few BTC and sell out at $65k. I missed the last cycle, but not fussed if I need to wait for the next cycle. For those who are more into assertoric reseaching, have look at "new" buyers of BTC and the overall activity for BTC in Robinhood. Buying Activity overall in RH = increasing price Selling Activity overall in RH = decreasing price My take RH users are the sheeple that creates momentum In July 2021 -> The median Robinhood customer have $240 balance in their account. The average is about $5,000 so it is the perfect data to gleam on the uneducated investor watching Tictok and YT finance gurus
Nah its just a planned entry point looking at sheeple activity, at the m,oment basically if RH data is saying RH users are selling or in limbo, why buy? However a meme YT bid, a sexy Tiktok dance or Elon twit can put rocket on the price lol. If I miss this cycle .... not fussed, there is always the next. Basically I treat BTC as a speculative asset and I bought/sold on a repeat cycle of buying the drop and sell about double, even if the mometum is strong. Normally I would consider $40k as big enough drop (last cycle I called $35K) but the last two years, I am loaded up on various 4c to 10c lithium explorers. So I am hesitant to pull money from lithium into BTC, when 5x to 10x are on the offering in a year.
I saw a video of a guy that does astro crypto and he says the stars tell him the bottom was 40k. I dont know how astro crypto is figured but he seems confident in the prediction. It might be a new thing?