It Cracked. Now What?

The inevitable has occurred. Bitcoin has broken the $30,000 price level and "it's fighting to reclaim it at less than $300 beneath that". I told you it will happen!

Well, I guess most of the crypto folks on twitter and everywhere else have called for that. It has tested this support for so many times that It would be a pity not to break it. Question now: how low will it dip and how long will it take to recover the fall that started in April-May?

I guess nobody knows how low, most certainly it won't go under $20,000, and if it does that then we have the first "failed bull market in Bitcoin's history". To answer the question of how long will it take to recover the loss I will have to compare this bull market with the 2017 one.

If we are to replicate that one, and have a parabolic trend starting July and ending December, then it's going to be pretty soon. Going lower than $29,000 to like $25,000 or something and bouncing back in a matter of days with momentum, we're definitely replicating the China ban dip from September 2017 and the uptrend that followed so we're all good.

z4eHfVbQQoyzkb2ttlPp_icebreakersfortraining.jpg
image source

If we look at where we are, where we were a few years ago and where the world's heading, then the shaky waters we're sailing feel like getting back in time knowing the winning lottery numbers. HODLers will definitely accumulate on the way down to $20,000. I'd do the same if I had the funds to do so. Don't know about Bitcoin, but I would definitely buy ETH.

Meanwhile the best solution right now would be to stack your sats, or whatever you hold, out of any exchange(so you don't trade) and take your eyes away from the market for a while. The market will do what it does and stressing about it won't help at all.

BUIDL

The best thing one could do during bearish times is to work on its portfolio, whether DCAing, developing if involved at this level, or creating content such as myself. I am not getting shaken out with anything out of this sphere. Hence, $20,000 or $30,000 per Bitcoin, ist mir egal, like the Germans say.

I still believe the bull market is not over and we haven't had a proper blow off top yet. Maybe December or next year, who knows... Not fucking selling, that's for sure.

Thanks for attention,
Adrian

Posted Using LeoFinance Beta



0
0
0.000
17 comments
avatar

I understand that you have a crypto portfolio, bigger or smaller, it doesn't matter. You say not to keep in exchanges, then where? It's a serious question, you know I don't know.

Posted Using LeoFinance Beta

0
0
0.000
avatar

it all depends on what are you comfortable with and how much crypto do you own. I bought Trezor wallet the moment i thought that it would hurt if i lost that btc.
hard wallets should be secure enough and not that hard to understand. now how will you keep your seed phrase safe is also a thing. Some people do some crazy things to store it, but they probably have at least few whole bitcoins and some maybe keep it on their desk :D

when you move it out of the exchanges the safety if all on you. And that is the great and scary thing :D

Posted Using LeoFinance Beta

0
0
0.000
avatar

If you are sure that you would not be trading your assets (BTC or even stable coins) you can keep them on Nexo. It's secure and provides 1 free withdrawal per month. It has good interests upto 12% (APY) which compounds daily!
If you want you can use my referral to gain extra profit, upto you. But keeping your assets idle is really a crime.

https://nexo.io/ref/0t091yb3il?src=web-link

Posted Using LeoFinance Beta

0
0
0.000
avatar

I was so so surprised seeing Bitcoin breaking the chains of $30000 down to $29,000 which still keeps holders and investors on a bad position in the market.

For a period of 4 months if I'm not mistaken Bitcoin have lust more than $40,000 value on the bearish market and up to now we are not certain on the trend that the market will follow, either bullish or bearish trend.

Question now: how low will it dip and how long will it take to recover the fall that started in April-May?

This is the big question here because I can't really tell how long Bitcoin will use to recover almost $40,000 value in the market which started from April.

Yes you mentioned that this is the best time for someone to stack Bitcoin and hold on it but I'm still having doubt about this break bellow $30,000 because judging by the market chart Bitcoin is closely breaking the support level.

And if Bitcoin breaks this support level that mean the bearish trend will take price from $29,000 down to $25,000 and mind you this is not good for us all in the hive ecosystem because hive price maybe falling too as Bitcoin affect Altcoins in the market.

So I just hope we watch the market trend and know what move Bitcoin will take before acquiring coins and stack them.

Thank you.


Posted via proofofbrain.io

0
0
0.000
avatar

It can recover all the losses in a week if it is to replicate rallies from 2017.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Well that a big probability as I don't see that happening anytime soon. However I wish the force you anticipate will come through but now since nothing is happening we Have to hope for the better and pray a positive factor push price up.


Posted via proofofbrain.io

0
0
0.000
avatar

i just want a record im calling 15k. i already had called 20k by summer end

Posted Using LeoFinance Beta

0
0
0.000
avatar

Lets see if it gets there...

Posted Using LeoFinance Beta

0
0
0.000
avatar

Oh yea it's going to get there. We talking about the same predictions at 50k saying the train had left the station and headed to 100k lol. We now down over 50% since then.

Maybe after this drop you all will start listening to me. Even if you don't then i have no worries because you will the next time adn the next time. Eventually you will have to accept the inevitable.

Posted Using LeoFinance Beta

0
0
0.000
avatar

I completely agree with what you wrote in your post. The bull market will come back, we assumed from September / October but one thing that is certain (at least statistically is) is that Bitcoin has never fallen below the previous cycle low. Price growth is what allows miners to continue their business. We've written a few posts about this.

Thank you.

Posted Using LeoFinance Beta

0
0
0.000
avatar

I agree it would be a longterm buy and hold below 28 and definitely 23k is a buy and hold level. Some might back up the truck at 23k and buy all they can afford, but then weep at 18k LOL
But I don’t think 18k is probable, but understand anything is possible, as when Bitcoin hit 64k most thought they would never see Bitcoin below 50k again LOL
So it’s unpredictable

Posted Using LeoFinance Beta

0
0
0.000
avatar

Great article with advice that really make sense in this market. I too am adding to my sats whenever possible and staking them, earning decenet enough interest.

Posted Using LeoFinance Beta

0
0
0.000