Despite Bitcoin (BTC) maintaining a price above $100,000 for several weeks now, it is clearly being supported by institutional buyers propelling the market. This is very bullish for the long term; however, BTC does need to correct in order to grow further. Volume continues to drop, and as soon as institutional buyers take a break, the price could crash.
Given that this cycle has introduced new market players, ETFs, and considering the current economic climate, a decline of over 60% down to its support level of $44,000 seems likely in the next year. We all know how it goes: when Bitcoin goes through tough times, it can seem like it’s dead, and that could be the best time to buy.
In the long run, if you're dollar-cost averaging (DCA) and have no intention of selling, I am confident that BTC will reach $250,000 in the next cycle, if not $500,000. However, it must correct to strengthen the lower supports and flush out over-leveraged traders.
Remember the saying: "When the tide goes out, we see who is swimming naked." This will happen again; it's Bitcoin!
Given that this cycle has introduced new market players, ETFs, and considering the current economic climate, a decline of over 60% down to its support level of $44,000 seems likely in the next year. We all know how it goes: when Bitcoin goes through tough times, it can seem like it’s dead, and that could be the best time to buy.
In the long run, if you're dollar-cost averaging (DCA) and have no intention of selling, I am confident that BTC will reach $250,000 in the next cycle, if not $500,000. However, it must correct to strengthen the lower supports and flush out over-leveraged traders.
Remember the saying: "When the tide goes out, we see who is swimming naked." This will happen again; it's Bitcoin!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.