Hello fellow cryptocurrency enthusiasts! I could not get around making another video about what I think is going to happen in the short term, and the short term is near, and here's why.
We all know most of this year's months we had highs and lows around the date of the 6th. And I don't think this last month of the year will be any different. December seems to be a month of hype regardless of the direction, hype on buy or hype to sell.
My personal opinion is that 3 things are happening in this period:
- Whales are accumulating ALTCOINS (if you look at the BTC value of alts, it's gone up most of cases - eg. Waves, MCO, are some that come in my mind)
- Weak hands are selling ALTCOINS in order to get out by then selling BTC for fiat
- We're in the month of presents, and some will be willing to sell some of their remaining profits to buy gifts (even if you pay with crypto, in the background there is a 3rd party company selling the crypto and then giving fiat to the companies).
So, my personal feeling is that we'll be seeing liquidity exit the market, and we might expect the price to fall into the Depression phase of the feelings chart most of us should be aware of.
If that really happens, we might fall down to one of these 2 levels of support, depending on how strong the FUD will be. My strongest belief is that we will not revisit 1890$ but I think we can see a short fall touching the 3000$ support level.
I'm curios what are your thoughts on my article, and about Bitcoin for the short term? What will you do in the event that my prediction happens, and most important in which category of behaviour are you positioned in?
Feel free to leave a comment, interact with this and see what's the feeling in the market.
Absolutely agree with this - and as crypto enthusiast I should not be doing this but I sold some of my BTC at $4300 and hope to get back in at lover level as in Christmas and new year not to mention that in China it is 2 weeks later than we have it - I believe that BTC will bottom out only at the end of January. As there is no hype in crypto markets - most people are selling for presents just like you mentioned, most people loosing faith and exiting, stocks are crashing & smart money leaving markets to buy in at lower levels, so as 1800 new BTC worth of about $7.2 million every single day are being mined and entering btc supply. So my predicton is that it could go even lover than 3K I would say it could reach $1500 lows - I know it sounds weird - hovewer it will never go t 0 as I will always buy in no matter how low it goes :)
Nice move, I missed the dip, now it's risky for me (and I also have most of my position in ALTs (which now are on the upwards), but I would suggest you buy in steps, I don't think it will stay low for that long, it will be re-bought in the next day or two by miners, as cost of production is higher than actually buying it from the market (at least if it touches 1800$). I also don't have that much time to actually execute trades, so I'm just leaving them in HODL mode :)
That's actually one more problem for bitcoin - it is - that all crypto investors who are currently in crypto knows that if btc grows alts grow much faster 90% of rypto investors know it - so
Mind blown, you are right, it will stay longer, and bitcoin will lose dominance, and they will drop prices, but then satoshi wise, alts will perform better, and then, they'll get back into bitcoin. This time around, alts get stronger while bitcoin gets weaker. But not sure if most of these guys getting into alts actually understand, that if you buy bitcoin low, but then buy alts expensive against satoshi, you're not getting a good deal, so you're not buying low actually, no?
I will consider buying at the end January I believe that about that time price will bottom out and then when BTC dominance again will reach about 80% I believe we will start moving back up - but not financial advice :)