When's the Next Big Mega-Crypto Dump?
The cryptocurrency market, and it's big daddy Bitcoin, have been beaten down over the last several months, but it seems to be perking up, and should hit $46,000 within the next day or two from the time of this post. Some analysts say it will break $50,000 soon, with $55,000 right behind it, which is a reasonable prediction, but be aware that another big dip could be on the horizon, providing newbies and old-timers alike an opportunity to buy their favorite coins at big discounts. Here's what I 'see'...
Please note that the following is not intended to be financial advise! 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.
Yes, the crypto market seems to be rebounding, but don't be fooled that a big "to the moon" break-out of Bitcoin is imminent! Sure, you'll see the cartoonish "moon boys" of Youtube predicting massive gains, and sure, massive gains can be realized over time with smart investing, and a lot of patience, but the year 2022 is mostly a time for slow and steady gains, with massive dumps in between (as usual).
Today is March 1st, 2022, and Bitcoin has been slowly moving upwards (yay!), but be aware that much of its movement between now and May first will be, in my opinion, mostly sideways, with some modest pullbacks (maybe one bigger shock with a fast rebound in April). This will leave the door open for some of the smaller "alt coins" to make some solid moves up, too.
However, we can see how the Canadian government, the Russians, the Chinese and especially America's corrupt governments, and endless money-printing, can cause a market to dump in the blink of an eye on one bit of bad news. This is what i see happening in early May!
Yes, May 2022 could bring a huge opportunity to buy crypto at even better prices than we've seen since January. To me, it "looks" like a sharp and massive dump, which will not be followed by an immediate rebound. Instead, it could be a dump, followed by another dump, so be sure to take your time, and don't buy back in too soon.
Please note that even though I 'see' a dump in early May, I am not saying that there won't be plenty of trading opportunities in the meantime. Just play it safe and avoid "staking" crypto with terms that put you out past the very beginning of May!
However, once this happens, it is likely that the market will move slowly in recovering through June with massive gains in July (relatively speaking). Still, this year, to me, looks like a rather lackluster one, and I believe that the bigger "to the moon" gains will begin in early 2023 instead.
Please remember that no matter what, if you do NOT overtrade, and use simple dollar cost average techniques during the down-market periods, you will win in the long run...perhaps more so than the day-traders or swing traders who get easily wrecked using leverage or by panic buying/selling.
I honestly believe that there are many 100X gains to be realized through 2024...coins with real, solid businesses and technologies behind them out there now! One of my favorites that I actually use every day is CRO (crypto.com). More on that in a future post...