Re: Summer dip?!, December price outcome? ---> JOIN and guess the price GO!
⭐ Merited by LoyceV (5) ,El duderino_ (2) ,vapourminer (2) ,LFC_Bitcoin (1) ,jojo69 (1) ,dragonvslinux (1) ,JayJuanGee (1)
Thank you El duderino_ for this competition.
Thank you LoyceV for invitation
6 months from now ... Its super hard but lets try. First of all - is it the end of bull run?
I think that bubble that we've seen should not end up with 3 month consolidation. Thats not how bubble looks like.
I think that bitcoin was never stronger from fundamential point of view:
Bitcoin just started to eat its portion of corporate debt bubble cake
Until 2023 FED does not plan to rise interest rates. I assume that we should have 1.5 years more of "bubble of everything"
BTC was never an "alternative investment asset" during The Real Interest Rate being negative 5%.
https://www.longtermtrends.net/real-interest-rate/
It means that if you have $1M in your bank account you are paying $4166 MONTHLY in inflation (in devaluation of your savings). Fking 4k! Treasury bonds or term deposits gives nothing (0-0,2%). People are desperate to find good investment.
Until 2023 inflation will go to 20%. Everything will pump. Why BTC should dump? Only because of short term price action and scary looking chart? I guess that we are currently in massive shake out made by whale manipulation that will end sooner or later ... Maybe after testing 20k in next 2 months? Maybe even now.
Now, that we know the direction that I think price will go its time for my price guess. Here I must say that I think that its impossible to estimate this. I just randomdraw how a strong recovery could look like and cut off December 7th (white line). Strong recovery because thats why I expect based on economic situation and bitcoin fundamentials.
Green line is taproot activation. I think it will help recovery.
From this we have 44500 or 53300 (depends if we are going to test 20k or bottomed right now). If I was writing this post yesterday I would pick 44500 after testin 20k. Today, after strong recovery from 30k to 33k i'm more closer to "we've seen bottom" verion. So after long story final bet is $53 300
Thank you LoyceV for invitation
6 months from now ... Its super hard but lets try. First of all - is it the end of bull run?
I think that bubble that we've seen should not end up with 3 month consolidation. Thats not how bubble looks like.
I think that bitcoin was never stronger from fundamential point of view:
Bitcoin just started to eat its portion of corporate debt bubble cake
Until 2023 FED does not plan to rise interest rates. I assume that we should have 1.5 years more of "bubble of everything"
BTC was never an "alternative investment asset" during The Real Interest Rate being negative 5%.
https://www.longtermtrends.net/real-interest-rate/
It means that if you have $1M in your bank account you are paying $4166 MONTHLY in inflation (in devaluation of your savings). Fking 4k! Treasury bonds or term deposits gives nothing (0-0,2%). People are desperate to find good investment.
Until 2023 inflation will go to 20%. Everything will pump. Why BTC should dump? Only because of short term price action and scary looking chart? I guess that we are currently in massive shake out made by whale manipulation that will end sooner or later ... Maybe after testing 20k in next 2 months? Maybe even now.
Now, that we know the direction that I think price will go its time for my price guess. Here I must say that I think that its impossible to estimate this. I just randomdraw how a strong recovery could look like and cut off December 7th (white line). Strong recovery because thats why I expect based on economic situation and bitcoin fundamentials.
Green line is taproot activation. I think it will help recovery.
From this we have 44500 or 53300 (depends if we are going to test 20k or bottomed right now). If I was writing this post yesterday I would pick 44500 after testin 20k. Today, after strong recovery from 30k to 33k i'm more closer to "we've seen bottom" verion. So after long story final bet is $53 300