Hello everyone.
As you can see, bitcoin is going down and I believe that it will keep falling.
As I explained in my last posts, this Bitcoin rise wasn't sustainable. There are literally no reasons for Bitcoin to go up now.
So I want to remain you guys again that right now is not the time to buy bitcoin.
Inflation is still high, interest rates are still getting higher, FED is not planning to stop any time soon, and the economy is suffering. All these reasons won't let Bitcoin rise from the ashes YET. But I believe we will see the end of it this year, probably in Q4.
So I recommend holding on to your cash/stablecoins right now and waiting for the signals to buy Bitcoin.
And as always, the best signals to look for: FED start cutting rates. When this will happen, it will mean that economy will start recovering soon so it's a great time to buy anything you want before crypto and the stock market will go up.
Have a nice day and take care.
I am starting to love your posts crypticj, but for the wrong reasons. You are a perfect example of an terribly researched person who knows very little, and yet thinks they know very much to the point where they think they can give people advice and almost tell them what to do. It's entertaining to the knowing eye...it's sad for those who are actually following your words.
As I explained in my last posts, this Bitcoin rise wasn't sustainable. There are literally no reasons for Bitcoin to go up now.
It was very sustainable. Some reasons for the growth:
- FTX and LUNA collapse during 2022 caused artificial devaluation of the cryptocurrency market
- FTX recovering $7.3billion worth of assets (that were probably liquidated and are now ready in fiat) will probably be reinjected into the market
- The collapse of large banking institutions and the following further devaluation of the U.S. dollar via stimulus and liquidity injections to keep banks alive
- Relating to the above, people seeing clearly that Bitcoin is a must-have in their portfolio if they want to protect themselves from further USD devaluation.
So I want to remain you guys again that right now is not the time to buy bitcoin.
So I recommend holding on to your cash/stablecoins right now and waiting for the signals to buy Bitcoin.
Stop giving people financial advice. You are not a licensed financial adviser and I guarantee that you are probably going to at best end up making a fool out of yourself in the end and at worst make a gullible sop angry at you for providing such confident claims.
Inflation is still high...
Inflation rising is good for Bitcoin, as it devalues USD which makes Bitcoin stronger against it in the mid-long term.
...interest rates are still getting higher, FED is not planning to stop any time soon...
Increasing interest rates now means more pressure on bank liquidity and therefore more liquidity stimulus from the fed, therefore devaluing USD, therefore higher bitcoin value
...and the economy is suffering.
Weakening economies forces people to find alternatives. This is good for Bitcoin in the mid-long term. Also good for gold/silver.
But I believe we will see the end of it this year, probably in Q4.
I'll agree with one thing, that this temporary run (which will probably end around 35-50k and return to 30k after its peak) is probably the precursor to a much larger run following. I disagree that Bitcoin will get any cheaper than 20-25k, if it even hits these levels again
without unnatural forces.
And as always, the best signals to look for: FED start cutting rates. When this will happen, it will mean that economy will start recovering soon so it's a great time to buy anything you want before crypto and the stock market will go up.
You're talking as if there is a possibility that rates will be cut consistently and that the economy will magically recover. What strong evidence do you have to support this view other than your beliefs? The rates will probably not be significantly cut for a long time. In my (well researched) opinion, this is the start of a long dragged out and painful financial downturn.