There has been an influx of 600.000.000 fresh $ to the crypto market within the past days.
The entry door is very likely through Bitcoin. Given the current trading volumes, it is not crazy to suspect that up to 50% of this money is supposed to be traded into Monero.
Therefore we'll see a market cap. decline of Bitcoin somewhere around the $300 million range. This money will go into Monero within the next days. Let's just assume that a lot of profit taking will be going on.
Still it's more likely than not we'll end up somewhere around $20. And this is just the potential with the current money in the system.
I see no reason to be bearish within the next weeks.
The entry door is very likely through Bitcoin. Given the current trading volumes, it is not crazy to suspect that up to 50% of this money is supposed to be traded into Monero.
Therefore we'll see a market cap. decline of Bitcoin somewhere around the $300 million range. This money will go into Monero within the next days. Let's just assume that a lot of profit taking will be going on.
Still it's more likely than not we'll end up somewhere around $20. And this is just the potential with the current money in the system.
I see no reason to be bearish within the next weeks.