REMINDER: Crypto dip incoming. Be careful! Predictions...
Back on March 1st, I began warning readers of the incoming May crypto dump. We're right on the edge of the first dip later this month, which I believe will be followed by a second into early June. How low prices will go is anyone's guess.
Should you sell now and dive back in later, or just dollar cost average when the lows arrive? What can we expect once the big dip is all over? More below...
Pictured below: One of the channels I watch for technical analysis provides buy/sell indicators based on the Gaussian channel (Crypto Crew University).
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.
It's really hard to say exactly how low Bitcoin will go over the next six weeks, but I doubt that it will go below the $20k mark as some analysts fear (if it does, it won't last long). But, one thing is for sure, and that is the alt coins will dip (percentage-wise) even more! The good news is that they tend to bounce back hard and fast (generally speaking) when the market does rebound. And yes, I do believe that the market will rebound once this is all over, and will continue a bullish run through May of 2023.
I would go so far to say that many alt coins could rebound as much as 8X through the end of the year (possibly as soon as August) over their lows during the upcoming dump!
Should you sell your holdings now and buy back in? It depends. I like staking my coins and have two that are currently locked in, earning interest and rewards paid in the form of additional coins. My plans are to dollar cost average during the upcoming dip, because I believe my holdings could 5-8X through the end of the year. Another strategy that I've used during dips is to simply swap out coins for others that I believe will rebound faster.
One of my holdings is DOGE (I still believe that it could break the $.80 range this year, and it could break $7 in 2023, in my opinion), and the other is CRO (crypto.com or Cronos). I've urged my friends to get a crypto.com prepaid card because holders earn daily rewards based on staking and card purchases, plus I believe that it could 100X by the end of 2023!
There are many, many other opportunities to double, triple (or more) your cryptos following this big dip, so have your plan ready, don't panic, and be patient as this all unfolds.