The market is still not tired enough to scare all the weak hands.. Making frustrations also on (very) long term holders.
It's still OK for now. However if we don't see any real break (up) in Q4 2024.. + US elections, and still in this range (or below), which will mean that the alts market would collapse even MUCH more.. well probably ugly to see in that case, and maybe we would have to expect lower targets for that cycle..
During this time S&P500 still at ATH. If stocks market declines after US election or any other bullshit (kamala, recession, wars etc..) what's the probability of a BTC/crypto bull market? probably quite LOW.
So to resume yeah, bears can play few more days / weeks.. but if Q4 has nothing convincing and same/worse than now.. make your own conclusions.
Great post, agree with everything written here. Bitcoin can perform badly throughout summer very often. There’s no reason to really panic, I am just irritated after seeing a new ATH before the halving so I expected a lot higher by this point in the year.
Traditionally Bitcoin tends to start moving in halving year at Q4. I will be concerned if the price isn’t in the $70,000s at least by the time we hit December. Obviously if Trump gets in then it will be good for the price.
LFC’s irritated eyes firmly on Q4.
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