The biggest obstacle for Bitcoin's progress is now inflation. And the Ukraine Russia war is responsible for this inflation.
Yes, inflation is a big factor that is affecting the risk-appetite Bitcoin and will continue to do so. But I don't agree with you that the Russia-Ukraine war is the sole cause of it. Bitcoin has been falling due to inflation before the war, it only aggravates it.
it will always happen, my friend, because right now the whole world is in an economic crisis because of very high inflation, which causes purchasing power to continue to fall and decrease. many countries could not avoid the attack of this crisis and even the World Bank estimates that next year is the peak of the crisis will occur.
so I agree to always continue to be careful the possibility that bitcoin might go down again even though it won't drop drastically below $10K.
there will always be a tradeoff from falling prices that there is an opportunity to save more but it must be remembered that the bull market season will certainly be long.
As much as I love to support the selling of BTC because of inflation and the economic woes around the world, things are now changing as BTC is not ready to break some lows anymore. I was a core supporter of the crypto hitting the 2022 low at 17625.00 again, but the situation that unfolded in September made me change my stance. I am now neutral on it hitting the level until further notice.
Bitcoin closed September with a low of $19.573.43 and $20,109.85 being the high. October 1, we opened the price is also not much different, namely $19,431.10 and until now Bitcoin is still at a price of $19,078.50.
But take it easy seeing market conditions because we admit that there are some obstacles that may be being faced that make Bitcoin's movement slow down a bit than we expected. Just manage finances to add to our future investment portfolio. That's probably one of the best ways
October won't be much different from the previous month I think it's still the same thing with prices below $19k because it's not too much to expect an increase even though some say with UPTOBER it's still far from possible to see bitcoin go up again, trust me bitcoin still in a prolonged bearish period with no time limit.
I wouldn't worry about falling market conditions, for example, I'm more convinced of the opportunity to increase my portfolio in these easier times because I'm not looking for trouble just thinking about where the price is going, so it's more important to increase the addition of Bitcoin regularly now.
You are right, just like what I just replied in a comment, BTC can't do much this year again unless there is an event that really shakes the crypto space. But such an event will hardly happen, it's inflation that is affecting it and it is nearly priced completely for the year.