According to this expert, the bottom is in

[bbc.reporter]

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.

[crwth]

Just always remember, everything is speculation. Even if they say that they are experts, they could still make some wrong predictions like any of us. The difference is just that they have more experience than we do.

One interesting approach is to check the average ETF flow. Since many institutions are banking on BTC and are the ones with the money to actually move the market, I think this is an important case to add.

From coinglass.com ^[1], it shows today a negative move, so mostly it's not yet the bottom, just because they are offloading their BTC. It can still go lower IMO. There might still be a road down, but it's hard to fully know where it would be.

IMO, it's still not yet the bottom. There might be a more downward trend in the coming months. That would be the best time to buy.
^{Hopefully I could buy at the right time} 


[1] - https://www.coinglass.com/etf/bitcoin

[Emitdama]

The speculators seem to have the fuel to make lots of self-claims in price movements, especially in bullish market conditions, many people say they are great at predicting price increases correctly and they say "I told you so" sentences like this are often said, and when it doesn't match what they have said they say "humans can be wrong" therefore I always recommend DYOR. LOL

The current situation is not yet safe to enter bitcoin for those who want to invest in bitcoin due to the recession and ongoing geo-political conflicts in many countries, except for those who have been here for a long time, this is an opportunity to collect their bitcoins, but in terms of overall demand we have not seen it grow in a bullish direction, now it seems like we are consolidating the price so it can be maintained above $60k, and yes, we really need a big catalyst to push the market back to the bullish peak.

Unfortunately there are many "experts" like that as social media influencers who are getitng thousands of people to follow them by making claims and sometimes they are right and sometimes they are wrong and when they are wrong they delete the one they are wrong and if anyone calls out about it then they block that person and if there is a whole attack they just use automation to block people and make themselves look like there is nothing wrong, it's disgusting but it happens all the time. I think it's sad but it's the truth.