 | Happy ATHversary my dudes, you all made it. We're down approximately 69.83% from the ATH values, and generally bear markets see Bitcoin dropping from 80% to 93% before resuming to a depressing accumulation phase.
For Bitcoin to do conclude another 80% retrace it would need to be priced at about U$13,609.00, meaning a further ~15% drop. Of course the possibility exists the retrace is stronger this time, specially if you consider the FED trying to halt the US economy with rate hikes, which tend to strangulate speculative investments like crypto. It's also possible this is the first retrace that doesn't conclude at 80% and we're seeing the worst right now. It should also be noted that Crypto has never existed in a "FED is rising the rates" environment, as since 2008 interest rates have been kept very low even when the economy was "booming" (2016-2020). Lastly it should also be noted nobody knows shit about fuck, but if you're buying now you're obviously doing a much more efficient accumulation than the idiots buying at U$60,000.00 rooting for "100K EOY 2021!", so good job I guess. [link] [comments] |
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