In my opinion, in the next 5-10 years it will probably happen if cryptocurrency replaces fiat in some countries as El Salvador has done. Moreover, fiat currencies look relatively stable, but not strong against recession. Higher inflation rates and growing concerns over the sustainability of government-backed fiat currencies have started to have an impact and are causing people to turn to digital currencies.
Countries that legalize bitcoin or crypto will certainly make their citizens prefer to transact and store assets with crypto from saving money in banks, of course the influence of fiat will continue to decrease and I think this is a good thing because we are in the era of cryptocurrencies and will soon leave the era of banks. Of course, if the State legalizes bitcoin or crypto as a medium of exchange, it automatically makes its citizens choose to transact with cryptocurrencies as implemented by the country of El Salvador which has legalized bitcoin as a legal tender. Even El Salvador continues to buy bitcoins for the development of developed cities in their country. El Salvador has also reinvested unrealized profits into various infrastructure development projects. there may be countries that will follow the path of el salvador, but the majority of governments, i don't think they will. they will stick to their own fiat. but they may allow the co-existence of crypto, which is already happening anyway. but still the main currency will be their fiat, as they have full control of its existence. so for most countries, fiat will still be their main currency in the next 10 years. but we can't deny the fact, that maybe there will be few countries that will make btc their legal tender like el salvador. I think one aspect that causes most countries not to legalize cryptocurrencies is its fluctuating prices and not being sure of a decentralized cryptocurrency system that is considered to be a threat to their current monetary system. Many countries that until now do not have clear provisions to legalize bitcoin. They are still waiting for the development of bitcoin in the long term to legalize bitcoin-like el Salvador. |
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If your goal is long-term, then now is the right time to buy because the price of bitcoin is experiencing a decline in price. You can buy gradually when the price tends to fall then hold it for some time and sell at a high price in order to make a profit.
long term is very suitable to make a purchase for bitcoin at its current condition, because the price will strengthen again when the market returns to the green line, in this way we are able to get big profits in investing in bitcoin, many people take advantage of correction conditions to make purchases, depending on the readiness of the capital they have, because In fact, investment cannot be forced to be greater than the capital we have, but maximize profits so that they are in accordance with capital expenditures. Right. indeed bitcoin investment in the long term always gives big profits. Imagine, the price of bitcoin continues to creep up over time. Even in 2021, the price of bitcoin set a new ATH record in the $68k price range. Therefore, when the bitcoin situation is in a bearish trend, it becomes an opportunity for us to buy and store Bitcoin before returning to the uptrend. |
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I don't think the bitcoin price will drop further to the $30k level although in recent times the bitcoin price has decreased slightly where the bitcoin price has dropped to the $38k level. I see the current downward trend is only temporary because the potential for the market to return to bullish is still possible.
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In my opinion, the Bitcoin price towards the $100k level is just a matter of time. if there is a growing number of positive sentiments for Bitcoin, from adoption to mainstream exchanges to bitcoin approvals in countries like El Salvador. I am optimistic that the price of Bitcoin still has the chance to break the $100k level maybe later this year even though it is currently experiencing a downward trend.
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It's too early to talk about the bitcoin price hitting $100k as the year has only been two months and bitcoin prices have already quite moved away from last year's ATH. However, the $100k bitcoin price target could be reached in the next 2 to 3 years if more and more large institutions adopt bitcoin. While waiting for the bitcoin price to go higher, it's better if we can take the current situation as a point of purchase so that later we can get maximum profit.
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I think now the market is back for the better. The price of bitcoin experienced a significant increase where the current price of bitcoin again touched the level of $40k. I'm sure the current bull run will continue until we see there will be another new ATH in the next few months.
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The crypto market has been in bullish momentum at the moment. The price of bitcoin has surged again since the last few days, it is seen that bitcoin price movements are experiencing a bullish trend due to a strong price increase of up to 10%. it is likely that the bitcoin price is ready to continue its rise even higher to set a high price level in the next few weeks.
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Even though the bitcoin price has fallen nearly 5% over the past two days from the $45k resistance level, the bitcoin price is not going down to the $34k price level again. I expect the current decline as a move for significant gains over the next few weeks.
there is no guarantee this price drop will be a big profit in the next week as the bear market is not showing any signs of ending. the possibility of bitcoin price reaching a lower point in the next few weeks is still very wide open. Indeed, there is no guarantee to what extent the bitcoin price will fall but, if we look at the current bitcoin price movement, it is in an uptrend even though the buying and selling pressures are both strong, however, the bitcoin price is still able to stay in the $44k range. Therefore, I think Bitcoin will continue to advance in upward momentum towards its target price of $52k. |
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Many people believe that cryptocurrency is the currency of the future, but governments' adamant opposition means that, in my opinion, even in a decade, crypto will be the same. Alternatively, some countries may decide to develop their own digital money, like China did, in order to better manage its citizens, unlike bitcoin and other cryptocurrencies, which are difficult to trace. That might be their final option.
I think it is very unlikely that cryptocurrency will replace currency in the future. Although it is actually possible to happen to make it happen, it takes a long time. There are many challenges for a country that replaces cryptocurrency as the currency of the future. |
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If your goal is long-term, then now is the right time to buy because the price of bitcoin is experiencing a decline in price. You can buy gradually when the price tends to fall then hold it for some time and sell at a high price in order to make a profit.
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Even though the bitcoin price has fallen nearly 5% over the past two days from the $45k resistance level, the bitcoin price is not going down to the $34k price level again. I expect the current decline as a move for significant gains over the next few weeks.
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If you hold, the price can decrease, but it will increase back and later after decrease and increase, another ATH will be attained, which means you do not need to bother but just hold for years if you are not using your funds for anything.
If you are in need of your money, then sell your bitcoin, but know that most gainers are the holders. You can sell, expecting the coin to fall, if falled, then buying again would be great. But people that did not sell will also still later gain and Bitcoin will reach ATH.
The bitcoin market tends to fluctuate. Sometimes the price can also be stable as was the case for this year. In managing the price of bitcoin you must have smart tricks, accuracy, and accuracy. You can try it by selling bitcoin when the price rises slightly from your initial capital. Even if the profit you get is small, it will be better than the loss. The market is waiting for new investors because conditions like this are the right time to invest in bitcoin because the price is dropping. most likely the price will return to normal and do not miss the flight again. many investors are waiting for the plane to leave and some are still worried that bitcoin will go down again. Although it is difficult to predict future prices, it is better to be prepared for prices to soar again. Right. should be for long-term investors, they can take advantage of the momentum of the bitcoin price correction to buy bitcoin at a cheaper price. Instead of complaining about the correction. |
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In the long term, staying away from trading when the crypto market is down, and choosing an exit strategy is wrong. because bearish situations are often the best time to increase your portfolio and hold your Bitcoins before returning to the uptrend of the next market cycle.
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Throughout January 2022, the price of bitcoin continued to enter the red zone and even the price of bitcoin had dropped to $34k. However, entering February this year, the crypto market has slowly rebounded and bitcoin has returned to the $41k resistance level. I think, at this time, we have entered a bullish phase so there is hope that bitcoin will create a new ATH again.
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After experiencing a huge price correction in the last few months to drop to $36k, now bitcoin is experiencing a very significant price increase where the bitcoin price has returned to above $41k. If the current price hike continues, then we shouldn't see bitcoin prices lower than $40k again and heading for a sizable bull on Bitcoin going forward. But keep in mind that if negative sentiment occurs again, it is possible that the bitcoin price will be corrected even further down to $34k.
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Regarding expectations this year, I definitely want to see a significant increase in the price of bitcoin, considering that I currently hold bitcoin for sale at the highest price. Honestly, in the last year, I got the maximum profit from trading bitcoin. this year I hope there will be many surprises that we can meet so that we can get maximum profit.
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I think the reason for the correction in the price of bitcoin over the past month is because investors tend to wait and see while monitoring the decision of the next FED policy. However, the current market conditions can be said to be a stable market where we see bitcoin prices holding between $37k-$38k levels.
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Looking at the candlesticks in your analysis, I think based on this pattern the Bitcoin price will be bullish at least in Q3 2022 and the price will be in the $76k-$80k range. However, before hitting the $75k price target there may be a slight downside. Therefore, it is better to determine the right strategy to enter now so that when that scenario occurs we can get big profits. I am optimistic looking forward that a BullTrend will occur.
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Will the current downward trend in Bitcoin price continue? or the current price correction as a move towards bullish to set another new ATH record in 2022.
January will bea different story though, and there will be a huge chance Bitcoin will have a sharp drop If it will not going to have a significant recovery. Nevertheless, this is just a normal price movement and nothing to worry about. I agree with you that maybe early next year it will be a different story. Many experts say that bitcoin may still be bullish early next year. Although it is possible that the current price decline will last until January. Therefore, it is better for us to prepare a mature strategy to take advantage of market conditions next year, because the price of Bitcoin could be bullish again or further corrected from the current price depending on how conditions will be faced by bitcoin next year. |
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Although the bitcoin price had broken through the $50k level, it only lasted 1 day because after that the price dropped back to the $46k level. I see the current bitcoin price decline is not over yet and also the market panic is still happening. Therefore, I expect the short-term sell-off to continue, and the bitcoin price may drop to near the $42k resistance level.
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