Bitcoin is moving. And yes, I think the bottom is in, although we might test the recent low again.
You've heard the Youtube crypto geeks' doom and gloom predictions. On the one hand, they say that we could see a $12,000 BTC low (or even lower!). On the other hand, they're predicting a months long bear market well into 2023. I, on the other hand, am bullish, since it appears as if the crypto market is (generally) behaving as I had predicted in previous posts.
However, be aware that with a solid push over the next week or two, we could see a big, short-term pull-back (read: "buying opportunity") in the middle somewhere. More below...
Disclaimer: This is not 'investment advice'. Anything within my blog posts are my opinions only, and should be used as entertainment only. Cryptos are extremely volatile, and as you can see, their value can crash to zero in the blink of an eye, and investors can lose everything. Remember, only risk what you are willing to lose!
Just about every day, and nearly every hour of the news is filled with doom and gloom for the global economy and reports of soaring gas and food prices. However, if you've noticed, many are experiencing a shift in thinking towards a more positive outlook. We're just weary of the fear porn, and many among us are actually looking forward to thriving in the future...not merely surviving. This renewed optimism seems to have infiltrated the cryptosphere, and now, prices of our favorite coins appear to be on a steady incline.
With that being said, as I noted in my previous post, I've been accumulating my favorite coins, taking advantage of these once- (okay, maybe twice-) in-a-lifetime low prices.
Take for example DOGE, which I started DCA'ing at $.14, but held back until it dropped to the $.05 range. I've picked up enough to break even within the next few days if all goes well. However, as I noted in a previous post, I expect to see DOGE meet or exceed the $.80 range (perhaps as soon as August or September), which would provide some pretty hefty gains in a short period of time.
Beware of another pull-back soon! But, don't freak out!
But, of course, just when everyone FOMOs back in, watch as the market takes another very big but very short dip, perhaps testing some of the most recent lows. No problem. Just hold back some of your cash and take advantage of these discounts! By 2023, they'll be long gone, and you'll be wishing you had put just a little of your spare cash into crypto instead of waiting on the sidelines.
Please note that I do 'see' a $40k BTC by early August, and as I stated in a previous point, we should easily break its all time high, perhaps as soon as September (or, at the very least, by the end of this year). And, by the end of 2024, we could see BTC break $750k, but of course, that comes with some pain in between bull markets.