Well you need to realize. Who is there to buy Bitcoin at levels higher than that. Bitcoin at $15K was cheaper so it wasn’t usually for someone to buy 0.1 or 0.25BTC or so. But do you see people spending $50K for a single Bitcoin if their job is at stake.

Lots of people are starting to cut back. Those that aren’t will be in for a rude awakening. Hence why I don’t think we will get a break out to the $50K area. The $1M Bitcoin was obviously not going to happen in 100 days.
Was just a publicity stunt.

Yes I can see $40K being the top or at least $37k or something but I don’t think we will have a new ATH.
Most likely like I said before we are basically in an echo bubble and if we go to $40K it will most likely end up looking like a wick on the weekly and monthly candle sticks.

Economy is not looking good basically not a good time for many to be buying Bitcoin when they might lose their job. Hence why I don’t think ATH will be possible. Maybe next year or so when rates are cut.

Hard to say.
Going to be a big month.

Basically we got the fed decision. And now we are dealing with First Republic Bank. What if more banks fail? Should  be bullish because it’s Bitcoin but bad because we might enter another global financial collapse and have a long recession.

I will say we will finish at $30K which is where we are right now.

Every market is like this. Except maybe if you are investing in bonds or investing in stock index and holding for decades everything has risks. Look at real estate.

People last year and 2007 assumed that real estate will always go up and look what happened right after. And real estate is suppose to be considered a very safe investment. Nothing is safe from risk. Don’t invest more than you can lose.

Aapl stock is very strong. Look at stocks like Facebook or Netflix they all had a bad year last year but Apple held up pretty well. In my opinion it’s trading way too high for its value. If it comes down then obviously it would be a buy however I don’t think it will go down by much.

Yes their products are sometimes lacking and behind other competitors but people are used to iPhones and they buy them anyways. Same with the other products they sell. Everyone wants an Apple product.

Yes I found the commissions to be fairly high for a network that is notthat mainstream yet. Its pricy doing transaction on the ZkSync Lite, and I am assuming Era is going to be similar. There is also a fee you need to pay if you want to use a new address, its something like $2.

Now why are the fees so high? Either there is alot of bots which are farming the airdrop or the network is not efficient. With Polygon you can send MATIC for a fraction of a penny. But with ZkSync the transactions cost as much as Arb or BNB pretty much.

The issue I find with ZkSync is that it seemed way too many people are trying to abuse the airdrop. You got tons of people on discord asking every 5 mins if there will be an airdrop and you got people basically creating tons of accounts to farm as much of this airdrop as possible.

So even if it’s released we will get a small portion and the account farmers will probably get the majority and dump
It once there is a market released. And the airdrop is probably another 8-9 months away, it’s not happening anytime soon.

The reports came out that it’s under fdic receivership so it’s pretty much closed. The issue with this is that many depositors from small banks will get scared and they will also withdraw their funds, especially if they have more than 250K.

And the credit crunch will be bad on the economy. These banks won’t be able to provide credit to local businesses anymore and there will be an accelerated recession. We already have this happening in the auto markets where interest rates are over 10% for cars.

What he means is that there is going to be some big credit event such as these banks crashing and there will be a massive recession and fed will have to immediately cut rates and it’ll make crypto go up because they are going to be printing money again.

Basically it’ll be an inflation wave where inflation goes down but after all that money printing it will go back up again. Kind of what happened in the 70s where we got double digit inflation.

Basically there are no shortages really but the prices for food is insane pretty much. I would say food costs 50-100% more than it did back in 2019.

Sure at first it was because of Covid and then the supply constraints however lately there shouldn’t be any supply constraints and prices should of either leveled or declined a little. However you can clearly see that’s not the case when going shopping for groceries.

The issue here is that why would anyone keep their money in this bank when they know it has liquidity issues and might go under. Most likely it will get seized by the fdic over the weekend.

Will the fed again back all the deposits over $250K. Most likely since it would cause more panic on other banks but it would also lead to inflation. So the fed is at a tough position now.

Maybe the tax deadline had something to do with it. I remember back in 2018, we rallied in April. And then tanked for the rest of the year, but April was a good month. Maybe it was due to the tax selling.

However the difference is that 2017 was a bull market and many made tons of capital gains. But 2022 definitely wasn’t a bullish year and most probably lost money. So it’s not exactly the same situation.

Yes it was the false Arkham alert. Basically saying that the USG and MtGox coins are being dumped on the markets. And it’s pretty crazy how it happened so far. I saw the chart and assumed maybe Binance got hacked or something to pull this off.

Then a few minutes later it was a false alarm and the market pretty much rallied back. However if you look at the OI something like 15% of all positions were wiped in that move. Most longs are liquidated and we might head up from here.

With crypto there are many mistakes a new person can make. The largest is not keeping your funds safe in cold storage. Many people get their funds stolen because they keep it in a hot wallet and on Windows 10 which is full of bugs. They get it stolen even without downloading anything fishy. Hence why you need a hardware wallet to protect yourself.

Another issue is that they invest in way too many scams. Nobody wants to invest in bitcoin because the gains won't be 100x. So they invest in alt coins like Pepe and they are surprised that they end up getting rugged. And lastly the worse is leverage. Many people shouldn't be trading on 100x or 50x leverage. The markets are way too volatile and its easy to get wicked out in minutes with that leverage.

Basically the news is a hit or miss. Some news does affect the way bitcoin trades such as a bad CPI, or surprise fed rate or a big miss on the employment numbers. The issue with the news is that you normally see it late and by the time you react the move will already happen.

And many times the complete opposite can happen. This is happening now with employment numbers. Normally when employment is good, then stocks and crypto go up however lately it has been the opposite except for the last employment numbers. So its basically just like guessing and you should avoid trading any news events, especially on lower timeframes.

The only good airdrops coming up might be LayerZero, ZkSync and maybe Metamask. There are tons out right now however many of them are scams and many of them won't be big hits. And the issue with ZkSync right now is that there are way too many people abusing the airdrop.

They make a few hundred different accounts and send the funds back and forth. They got some protection in place like charging $2 to unlock an address so you can send funds and the bridge fee isn't cheap but there are still people abusing it because there is a good chance the airdrop will be worth 4 figures.

Is that TV show still on? Crazy. I remember being into that show when I was a kid, it was very enjoyable. And yes "The Simpsons" has predicted many things in the past such as Trump being president. However I think the reason why they had many predictions come true is because they had so many episodes, so its obvious that some would end up being true.

Since we are near the halving then its possible bitcoin will have another bull run. The largest issue right now is what is going on in the world with inflation. The fed might have to keep hiking and hiking and it might broke the economy into a recession. And if there is a recession then I don't think bitcoin will hit a new ATH during that time.

There is 5 more days of the month, and since its a little red, it'll most likely turn into a red month or a doji. Most likely we will consolidate in this area for another week or so unless there is some important macro news such as bad CPI, bad employment numbers, fed rate hikes ,etc.

However ever since we bottomed, bitcoin traded most days in a very tight consolidation. Very little liquidity and this will most likely continue. And a red month is not bad if its a small correction and not a massive dump.

Basically the reason why it went below the $2000 mark is due to all the unstaking that is taking place and causing the selling. Crypto is transparent and its very easy to see how much ETH is unstaked everyday. If you are a holder you can see this and know before hand that most of these unstaked ETH will be sent to an exchange and sold. Hence you are hesitant to buy more and will wait until the unstaking slows down.

The amount being deposited doesn't mean anything because those deposited ETH wasn't going to be sold anyways but the unstaked ETH has a higher chance of being sold. This is what might happen if USG sends more BTC to Coinbase to sell or when MtGox releases all those BTC after a decade.

Honestly reading that reply, it sounds impressive given it was written by AI. Its probably 10x better than what I read on the news sites whenever they report about bitcoin and crypto. I actually completely agree with everything that AI anaylzed.

Sure it should go to ATH due to inflation and money printing, however with the way that governments are cracking down on crypto it might make masses just leave the crypto market due to all these headaches. Will be interesting to see if Gensler is fired and how it goes from here.