Bitcoin at 16k, should I go all in?
I'm really struggling not to go all in right now. I DCA since the 50k level last year and my avg is 25k right now, pretty good in my eyes considering I discovered crypto in 2021. Bitcoin is presently 33% of my investing portfolio and I want more. I 100% believe in the Bitcoin ecosystem and future value that it will bring to society. I see Bitcoin right now as a store of value, I hope it's gonna grow to become much more.
From my perspective Bitcoin can go to 10k maybe but I don't see lower valuation than that. I'm presently watching the 13.5k-14k level with the 400W MA in mind. Considering it's been 1 year since the ATH and 1442 days since the 2018 bottom, I feel like the bottom is in or we are 1-3 months away. Just to keep in mind the 2018 bottom was 1428 days after the 2015 bottom.
Now from the Macro perspective with the FED moves, if we see inflation continue to go down in december CPI, the FED might start slowing down the rate hikes to 0.50 for next meeting and maybe 0.25 for the next one. The FED will not be able to keep raising rates when the unemployment will start to moon. If we keep in mind that markets always price in future event at least 6 months away, the 2023 recession would already be priced in or it is presently being priced in. For that to happen we have to see inflation go down first.
With all the blood on the street, isn't the best time to buy?
So why not go all in at these level? Maybe it's the bottom, maybe we will see another 50% drawdown, I don't know but it seems logic to me long term buying Bitcoin at 15-16k. In the long run it won't make a difference.
I don't really know what to expect for the next cycle, at least 100k maybe 200k??
Cathy Woods saying 1 000 000$ in 2030, I wish LOL.
From a Bitcoiner
You can get bonuses upto $200 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 Maiar - DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.