Crypto Update: The "ups and downs" continue. When will it just continue "up"?! (Predictions)
It happened, Bitcoin (BTC) has dipped just slightly below the $19k range (it's currently at $18,789), and the entire crypto market has (for the most part) followed suit with sluggish price action. Still, I'm watching for entry points at or just slightly below this range approximately 2 weeks out. From there, we can expect some slow upward action, with normal pullbacks (of course) through the end of 2022, and into early 2023. (More below, including my price target for SAND)...
In the interview below, Gareth Soloway does predict the possibility of a quick "flush" in the market, which matches with my prediction of a sharp pullback around the 3rd week in September, so watch for this buying opportunity!
Please note that the following is not intended to be financial advice! It is merely my own 'prediction' or opinion of the potential price movements in the crypto market, and should be taken as entertainment purposes only. Be sure that you never invest any money that you can't afford to lose, and apply sensible, dollar cost averaging techniques to minimize losses.
The big "ETH merge" is scheduled to happen on September 19th, and depending on how well it goes, the crypto's price will either go up or down. Many fear that if the merge is not immediately successful, the price could go all the way down to the $800 range, while others hope that it will soar to $2500 on good news. Which will it be?
In my opinion, I do believe that ETH will hold above $1,000 following the merge, if not creep up slightly above it's current $1500 range, but it could take several weeks (maybe 5-7 from now) for ETH to reach the $2500 range.
In my previous post, here's what I predicted, and so far, we can see the early signs of it:
"...continue to watch ETH for some sharp movements upwards (early- to mid September, most of October into early November, and January), followed by some nice pullbacks (so, don't panic, just take profits and enjoy the ride). Remember, each time there's an upward push and sharp pullback, we will see a strong recovery to higher highs. However, the volatility will be crazy."
Now, I do have to ammend my previous price predictions of $23,000 by early 2023. I would say that ETH's price by January of 2023 is going to be in the $8,000 range. We could see the $20k range by June of 2023 which is going to be a spectacular time for crypto next year. However, be sure to read my previous posts for more information on the major dips in the market that will occur in between.
What about BTC and the rest of the crypto market? Well, back on August 24th here's what I wrote:
"...I do think we'll see a small recovery of prices over the next week or so, but I would not be surprised to see BTC dip somewhat close to the $19k range (maybe just a tiny bit lower) by the third week of the month. However, it should rebound quickly (so, no worries if you don't catch it...just keep dollar cost averaging), leading into a strong October and even early November!"
"And no, I do not "see" BTC dipping down into the $12k range (at least not this year), so don't panic."
So, the third week of this month (September) appears to be a great time to pick up coins at deep discounts, and one of those that I'll be watching is The Sandbox (SAND), which I have predicted as being one of the biggest movers late this year into early 2023, among others. The price target that I have in mind is around the $.84 range, so watch for this and grab a few to hold through the beginning of January. Remember, I have predicted SAND reaching as much as $20 by mid-2023, so there's a big upside here, in my opinion.