Bitcoin Where Are We? Still Some Pain On The Horizon.
I don't believe we are out of the weeds yet and still have a ways to go with this bear market. The Federal Reserve's aggressiveness towards raising interest rates to combat inflation isn't the best conditions for a bull market in asset markets in general. We still haven't had any sideways movement with Bitcoin just yet and I don't believe we've found a true bottom either.
We could rally up to $28,000 or $30,000 but volume is fading and it seems like the current rally is starting to stall out. There's a big possibility that we revisit a sub $20k Bitcoin in the coming weeks or months. If the United States continues it's trend of negative growth that will not translate well into the crypto markets.
It's all about the cycles at the end of the day. The goal is to accumulate during the bear as close to the bottom as possible and ride the wave into the next bull cycle.
We could rally up to $28,000 or $30,000 but volume is fading and it seems like the current rally is starting to stall out. There's a big possibility that we revisit a sub $20k Bitcoin in the coming weeks or months. If the United States continues it's trend of negative growth that will not translate well into the crypto markets.
It's all about the cycles at the end of the day. The goal is to accumulate during the bear as close to the bottom as possible and ride the wave into the next bull cycle.