Quote from: Kasabus on Today at 10:18:41 PM

Quote from: Houdini76 on June 26, 2022, 08:15:37 PM

Hi

Been wondering how to tell we have reached the crypto bottom? have we already bottomed out(I personally don't think so im not sure). If we look at the current world financial system - it looks dire. surely this will all have a impact on people investing in crypto and when funds are short, may even withdraw their investment.

Personally, because of the state of the financial system, I cannot see how crypto can become bullish as long as the world economy doesn't show signs of a recovery . I could be wrong though ?

what are your thoughts on this? Is a further crash on the horizon?

We can only predict that the market is in its bearish state, but there’s no way that we can tell if the current price is already the bottom or not. Because if we only can, then everyone will be in panic buying and accumulate as much as they can. But the market is hardly unpredictable. Looking at the market scenario right now, I can only tell that there are more low prices waiting ahead, we just have to be patient while waiting for it.

Besides the crypto market being difficult to predict, we are not all forecasters who are able to know the future. So it is indeed impossible to know
the lowest price of crypto, we can indeed do research and analysis to predict the movement of the crypto market. But the problem is that no one
can predict the market accurately, so there is indeed a big risk when deciding to invest in crypto. That is why it is highly recommended to use
the extra money we have for investment, so that when the market moves not according to our predictions, at least we can still be patient holding
until the market recovers.

If we look at Bitcoin now dropping back below the $20k price again, it looks like there is a possibility that the crypto market can still drop lower than
the current price. So stay cautious investing in the current situation, and never panic if after we buy, the market suddenly drops lower. As long as
we don't sell at a low price, we haven't made a loss, and we should not doubt that the market will recover. So indeed we have to be patient when
facing the current bear market.