As new investors we expected Bitcoin to touch $100k this year but it is currently in a bit of a downward trend. Still I'm more optimistic that I can buy Bitcoin at my expected DIPS but if it continues to be bearish for longer I may regret not buying at a lower price. Waiting for more dips may give better results although chances may be last. My question is should we continue buying now given the value of Bitcoin? How fruitful is the initial target for Bitcoin holding until 2025?
I'm being discouraged to say that Bitcoin will hit $100,000 anymore in 2025. Initially, I thought the coin could hit $150,000 easily by that time based on the hype around it and for not leaning only on my investment experience but base it on how the coin had performed in the past. But this is changing and whether or not it will hit $100,000, I will solely let my technical chart guide me as I've never been wrong with it before when it comes to the true investment guide.
As for the market speculation of buying low, this is a good idea, but it is only when the market has bottomed already or returning up. Has Bitcoin bottomed already or returning up? That's what you should be asking yourself so that you can decide right. And if you ask me the same question, I will tell you No. The market is still extremely bearish and the breaching of the TrendMagin level of $62,120 is another discouragement to buy the coin for now.
The truth is that Bitcoin lacks liquidity inflow and the price action on the weekly chart has returned to be bearish which is a very huge discouragement. Anyone buying now is only wasting their money regardless of what tells them to buy as the overall outlook is extremely bearish. Why not wait until the whole situation changes to favour the bullish path?