Expecting mostly sideways from here...
There may be one more lower low, but I think we are close to the bottom now
Bitcoin isn't likely to take off like a rocket any time soon, but I also don't think it will go much lower either.
A lot of people calling for $10k, which is probably why it won't happen.
A dip to $12k isn't impossible, but that might as low as we get.
Based on past patterns, including a black swan like ftx, we are likely to go mostly sideways from here for the next several months before ultimately breaking to the upside...
Check it out:
(Source: https://twitter.com/StockmoneyL/status/1596532924454682624/photo/1)
But wait, FTX!
Yep, 2015 had the Bitfinex hack as well...
Get comfortable it's likely to be pretty boring imo over the next 6 months or so...
My signals went green a week prior to the FTX debacle. It will not take much for crypto to recover to that point again. Here is to hoping. It is good to see an active acct from the old days! Cheers
Yep, agreed, though I don't think it will go straight up or even bounce much... This looks like a setup for months of churn to me, though probably not much lower either.
Upvoted! Thank you for supporting witness @jswit.
We don't have much invested in crypto outside a little dogecoin we mined with an old PC a couple years ago and what steem we earn here. Most of our stock portfolio is speculative stocks though and they have been beaten up for a year and a half now. I think the market in a general sense views crypto like a speculative stock. There is probably more downside to come but I believe things will pick back up, even if slowly, eventually.
I am betting on 12k for bottom and I think there will be more FTX kind of collapses soon. Several more.
Weren't you calling for $15k bottom before?!
Both numbers have been in my brain. I called 12K a year ago and been back and forth iwth 15k depending on how grumpy I am that particular day.