I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?
I am thinking around 20K.
Any guesses? If so, why (sentiment, support levels, etc)?
Thank you.
Happy 2021 and good luck to you all!
$20k is possible, but the chances for Btc to bounce back during that time might be slim to non, thus you will again wait for a 3-4 year cycle for the next bull season. But ultimately, the best entry point is during the bear season.
At this current rate, It seems that Btc has no plan on coming back down to that level as we still have a lot of investors that's coming in to the crypto market, and a pretty good numbers of good news for Bitcoin to continue surging, probably up to $50k.
Nothing is impossible in the cryptocurrency market since we are dealing with a volatile system and no one expected the market to be this ridiculous increase in price at the early stage of this year but it cant be used to judge how the whole market of this year will be.
With that been said, I read that the market will experience correction during the last of this year Q1 and if it a strong we may see the $20K price again but no one can know the right bottom