Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
For what it’s worth, I think we’ll go under $30,000 at some point in the next 12 months. We won’t go sub $20,000 though. $100,000 & much higher is a guarantee in 2024/25 after the next halving. Be smart, if you panic then you’re looking at too low a time preference. $100,000 & beyond in under 3 years, any kind of significant dip now is a gift.
Very, very unlikely. With all the corporate guys onboard, billionaires, Russian oligarchs etc etc... I doubt we're getting any lower than ~$40k. Most probably we have already seen the bottom (@ $38-39k) and resuming UP now. All in all, I'm very skeptical about the "classic" 4 year cycles.
Next 24 days are critical.
In the higher timeframes we are moving upwards since a few months. We know our bears are patient. They'd be best advised to dump "sparingly", not to scare off new money and take higher profits (compared to a full scaled flash-crash dump). They want to drain the market, not let it dry out completely, and these days, with the global hashpower, it's easier to move the price down, compared to up.
I think the most likely reasons for the price still going up gradually on the 1d+ charts is the increased awareness and new money brought to Bitcoin, lately.
That might as well distort the "4y cycle picture" we got used to.
Maybe there will be no more mindrusts this cycle, because we are already beyond the cycle low due to adaptive bears and growing buying interests. Only earlier this time. This cycle seems blurred, compared to 2017-2020.
Summary:
1BTC = 1BTC