Hello everyone! Today bitcoin went below 20k and it will probably go even lower I share my opinion on why it will happen.
Not too long ago I wrote a post about the best time to invest in bitcoin/crypto and this moment still didn't come.
I was saying this before and I will say it again: bitcoin will go down and it MIGHT even go lower than 15k.
Disclaimer: I'm not trying to be bearish or say that bitcoin is bad and you shouldn't buy it. I still think that DCA is the best tactic to choose in any circumstance. So keep buying bitcoin, it is the future of money and great technology.
But my opinion is that right now it's not the best time to buy bitcoin and it will go lower because of some reasons. The main reasons for me are that the inflation is still too high, the economy is suffering and rates are still high. There is also a statistical fact that all previous times when FED pivots happened, the economy dipped even lower and found a new bottom. We still didn't see this fallout so it's safe to assume that it's coming.
Latest statistics also showed that inflation is higher than expected and FED could start hiking rates once again.
My advice will be to wait until FED will start lowering rates which will mean that the economy will start recovering and money will flow into crypto and bitcoin.
Anyway, keep safe and don't panic, we will get through it.
The initial prediction of bitcoin price on bearish has not reached, different users with different prediction have been said here and other boards, some predicted that bitcoin will reach as low as 10$ or below. One thing I also discovered in the rapid coming down of bitcoin price more faster than when it is going up. Remember in last year the price was in 15$ for weeks before it climb up again. So reaching 15$ again is not a new thing for bitcoin legends.Not too long ago I wrote a post about the best time to invest in bitcoin/crypto and this moment still didn't come.
I was saying this before and I will say it again: bitcoin will go down and it MIGHT even go lower than 15k.
Disclaimer: I'm not trying to be bearish or say that bitcoin is bad and you shouldn't buy it. I still think that DCA is the best tactic to choose in any circumstance. So keep buying bitcoin, it is the future of money and great technology.
But my opinion is that right now it's not the best time to buy bitcoin and it will go lower because of some reasons. The main reasons for me are that the inflation is still too high, the economy is suffering and rates are still high. There is also a statistical fact that all previous times when FED pivots happened, the economy dipped even lower and found a new bottom. We still didn't see this fallout so it's safe to assume that it's coming.
Latest statistics also showed that inflation is higher than expected and FED could start hiking rates once again.
My advice will be to wait until FED will start lowering rates which will mean that the economy will start recovering and money will flow into crypto and bitcoin.
Anyway, keep safe and don't panic, we will get through it.
The best time to invest on bitcoin now and then lower price to come. Then to come is only of the buyer is ready to be patient because the movement of the downward might be slow.