Seems like the support level held its own. We are recovering not that badly neither. The recovery is a lot slower than the drop so it is not going to be nice to see that but I am quite happy with what we have right now. It looks both accumulating phase and also a recovery phase at the same time because of how slow it is.
Looks like the market is recovering and hopefully we will not see any major sell off right now. I am not even sure why the market had a correction when there is not much negative news in the market and the day El Salvador legally introduced Bitcoin as a legal tender the market went down which is strange.
Let’s hope that we could actually do see 50k+ this month, if we can do that before September ends then on October, November, December trio could be a lot better and with Q4 coming to close we could even beat ATH and have a new one as well. I really hope to see that happening but I am not sure if it will happen that quickly, it may take well into 2022 as well, that could be a bit of patience requirement but I am still happy as long as I get to see it break over ATH and get a new one, 100k is not THAT far away and can happen.
In Q4 the expectation is that we will touch another all time high but i wonder how low the market could go once the bear market starts, my guess is that it will touch the old all time high valuation of around $20k by mid 2022. Just curious to see the market situation in the next one year as anything can happen once institutional investors starts their sell off.