Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Crypto Barik on September 18, 2022, 04:33:39 PM
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1. The minimum deep that BTC dived to was 17,500$ do you still think we are going below 13,000$? If yes please explain.
2. Does it matter if you build a crypto portfolio at 15k per BTC or 10k per BTC.
3. In 2020 covid was the reason why BTC crumbled to 3,500$ what will happen in 2023 that will bring the same deep dive to crypto market.
4. Crypto keeps looking stronger every year, it's getting more recognised and big players of the world are saying BTC is a better store of value than the dollar for long term, are they right.
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Today the total global market has been down for the day in crypto, although some altcoins have registered wildly and jumped more than 200%, while bitcoin has a slight decline, bitcoin is still trading at $19700 Used to be.
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1. The minimum deep that BTC dived to was 17,500$ do you still think we are going below 13,000$? If yes please explain.
2. Does it matter if you build a crypto portfolio at 15k per BTC or 10k per BTC.
3. In 2020 covid was the reason why BTC crumbled to 3,500$ what will happen in 2023 that will bring the same deep dive to crypto market.
4. Crypto keeps looking stronger every year, it's getting more recognised and big players of the world are saying BTC is a better store of value than the dollar for long term, are they right.
Here's my personal thoughts (don't follow blindly):
1. I'm totally prepared for BTC to at least wick down to ~15K, or linger there for months.
The most important thing to remember here is, the Fed is not printing money anymore. (For the newcomers: USD is world's reserve currency, that's why that's so important). So... it's pretty hard to attract the moneyflow necessary to fuel a bullmarket. The money aren't there. Rich people prefer bonds in these conditions, the so-called "risk-off" sector. Stock market and Crypto market are viewed as risky investments (crypto much more so). So, crypto needs a damn good catalyst to start a bullmarket outside of money-printing conditions.
If the Fed doesn't pivot, we may not see money-printing for many months to come. Now... foreign (foreign to the US) chaos may pressure the Fed to start printing sooner, because the war in Europe is enough chaos for the world right now. Everything else (like Sri Lanka, Pakistan, Taiwan etc.) is crossing the line.
The bad thing is, recession is looming (if not here already), and, unlike previous times, the Fed cannot resume money-printing to get the world economy out of the recession like it usually does. We may have to live through a recession without money-printing. And that would mean an exceptionally long bearmarket (not enough dry powder to fuel a bullmarket in crypto).
Oh, don't forget housing market crashing too. Wealth is being destroyed here. And since nobody is buying property right now, you basically can't sell your house and buy BTC. Cos, simply, nobody will buy your house right now. No buyers. So - no bullmarket in crypto too.
2. I don't believe it matters.
IF you have an income that doesn't classify you as poor, this means you can put reasonable sums aside every month. A $5K margin is nothing, really, it's a tight range for BTC. If BTC falls to $15K-$10K range, this means you have time to DCA your portfolio all over that tight range, and it would be pretty good, imo.
Don't look at it as separate levels, like, "you f-ed up cos you invested at 15K BTC and it fell to 10K", no. It's a tight range, I personally view these two levels as one singular bottom range, and I would like to be all over the place there.
3. I don't believe there will be such an event. COVID was a one-off, a Black Swan event. Black Swans are not regular, as some TA line drawers and fractal-pasters lead people to believe.
4. Yes, they are right. I believe in this.
I think it will be quite the digression to give an explanation here. But you will really benefit from googling "The Origin of Modern Money - and its Dark Future", it's a great explanation.
HOWEVER - do not interpret this as "BTC will only gain in value against the dollar". BTC is a better store of value and the centralized fiat financial system is failing, but that doesn't mean there's no danger for you as an investor to lose your money in the turbulence ahead. Also, do take into consideration the financial war CBDC's are going to start. It is guaranteed metaphorically, but I personally think there will be a real confrontation too.
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There are new stuff about crypto, to mull about. I would go with Polygon network here I know it is not a popular choice but that is what my mind is telling me. The Polygon community is quite burgeoning and the devs have got some stuff on point. Also they got some interesting partnerships going on to tumble down
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As far as the cryptocurrency market is going, we would never know what would happen until we're there ourselves. However, to make an educated guess about it, it's still best to keep an optimistic mind because if you believe in BTC, then it might just spread and people would see that at this price, it's still relatively cheap.
Building a portfolio is essential if you are looking forward to making things better for your future in the long run. I think having that would be beneficial to your money investment-wise.
Just believe what you want and take the appropriate risks.
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No one knows for sure and predictions won't be right. It's just that for those of us who believe in Bitcoin having the principle as long as you can buy when it's cheap then why not do it today? The ups and downs of the crypto market are always volatile and you cannot predict from one side only. Let's say you sell bitcoin because you hear there will be a deep bearish, but subconsciously people have been waiting for your sale without thinking it will be bearish. Investors always think 10 steps further and in fact, they manage to take profits in the long term. If it only measures to 2023 of course it's not a good choice if you keep it temporarily. Gradually the Bitcoin market will continue to grow. Digitization has spiked since the pandemic and in today's era people have learned a lot that keeping money in Bitcoin has given them the option of complete control despite the bear market has come many times.
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1. The minimum deep that BTC dived to was 17,500$ do you still think we are going below 13,000$? If yes please explain.
2. Does it matter if you build a crypto portfolio at 15k per BTC or 10k per BTC.
3. In 2020 covid was the reason why BTC crumbled to 3,500$ what will happen in 2023 that will bring the same deep dive to crypto market.
4. Crypto keeps looking stronger every year, it's getting more recognised and big players of the world are saying BTC is a better store of value than the dollar for long term, are they right.
Under 13k dollars is a very difficult level in my opinion. I think 17k dollars will be our lowest level for now. While the whole world is talking about global inflation, I do not find it logical that an asset with limited supply such as Bitcoin gets cheaper. Maybe we can talk about never seeing these levels again after a few months. We have no valid reason to say that things will get worse. I don't expect a bull season but I definitely expect the market to be a little better. That's why the $13k estimates don't sound very convincing to me. DYOR
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It's possible yes because we are in a bear market, and the bottom is usually pretty harsh. For every dip, there's an opportunity hence "buy the dip" :)
I think the reason other than the global economic slowdown and stuff, it's because of ETH going PoS. It's 2nd biggest crypto so if it loses market cap, it will trigger market pressure on other coins. Think about it, with PoS, coins are easily generated without much cost, therefore if I'm a whale, I can just stake and sold my earnings while keeping my staked coins intact. This Shanghai upgrade event (when they can withdraw and start selling) is scheduled for early 2023.
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perhaps we are greatly exaggerating about cryptocurrencies, because that's what we want, yes...the recognition of cryptocurrencies has become wider, but not enough for me, for example, to be able to go to the store and buy products for cryptocurrency....We still need time
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With the pressures against Bitcoin and the lack of interest from the usual investors and traders, there is now a big chance that soon Bitcoin can soon be reaching the low of $15,000 not unless something dramatic can happen to push the value of this asset upward. Now, having said that, in 2023 there is a big possibility for a global economic meltdown...and this can greatly affect Bitcoin as less and less people and organizations will be taking the asset in their portfolio. Sadly, Bitcoin is supposed to be the opposite side of all the economic problems affecting the world but since we are in an open market where sentiments are on the top of the chart Bitcoin has become a part of the system and not anymore an antidote.
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Crypto keeps looking stronger every year, it's getting more recognised and big players of the world are saying BTC is a better store of value than the dollar for long term, are they right.
I think this is the reason why bitcoin continues to decline where more and more newcomers are inexperienced and create hoaxes when experiencing losses, even though they do not understand what bitcoin is and how it works
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I think 17.5K is the bottom of BTC price this crypto winter. I don't think we will have a deeper bottom, so I started DCA BTC in August. My expectation for BTC is 160K-200K USD in 2024-2025, so I don't care about the correction. short-term correction of BTC in 2023 or 2024. To me, any correction is necessary for BTC to continue to grow.
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I am predicting that by the end of the last quarter of 2022, there can be the start of the resurgence for cryptocurrency market. Right now, the industry is following the lead of the usual investment vehicles like stocks, gold and many more and it is being affected by the power of the ongoing inflation affecting many economies - which is kinda sad because we have been assuming for too long that most cryptos can be an anti-inflation kind of thing. Well, we just have to be hoping for the best and yet be prepared for the worst.