Whenever the bitcoin market is on the move, a lot of idiots on the internet become "experts" and make predictions. If they are correct once (like how a broken clock is correct twice a day) they get full of themselves quickly too
In any case, it seems like price loves staying around $70k and whenever it is pushed below it, we can see a recovery soon. Although it is a good sign but it is not a sign of bull market beginning. Not even close. We need to see actual momentum and decent interest among buyers and less incentive amongst weak-hand panic sellers. We are not there yet, which makes the current situation rather fragile.
I still think it will come down to recession and geopolitical tensions. We already have dollar tanking every day which is a very strong force that should push the bitcoin price up to the moon. However, with recession and all these wars US regime is starting to save the dollar, the investors are being pulled toward gold and all the money is going there for now.
Are you implying that this
expert is mistaken in declaring that the
bottom is in?The skeptical and the contrarian in me disagrees on this declaration, however, it very much appears that the market has stronger support on $60k-$65k.
On recession and war, the American economy is very resilient and the wars the Donald has been starting are only for a few days similar to the bombing of Iran and the attack on Venezuela heheheh.
