Bitcoin to $ 8,000 ?

29 ago 2022

At the beginning of 2021 I've stated that BitCoin will test the 17,000 range and placed a mark on it, once this prediction become true I then realized that BIT might go even lower to 8,000!!!
The reason is around fed actions and market conditions currently which are not supporting any how to Bitcoin.
The fed's tightening up (QT) and the high interest rates will continue to push BTC down to 8,000 -13,000 prices ranges, the simple indicator of Profile Vol shows low market volume around BTC in the current range (ofc, it has it's own reasons for the current price...)
Anyway, the status is:

• Negative news around bitcoin (Celsius, Digital, 3A bankruptcy)
  
• Higher interest rates meaning less risk (the inflation won't ease so fast, so we have one more year).
  
• Not enough regulatory changes
  
• The focus of the world is saving energy or using to the right purposes, yet Crypto symbolized as waste in energy use energy to mine a coin (incorrect use for energy).
  
• The high risk from the volatility
  
• The low market supply & demand
  

,

All leads to low trust on cryptocurrency and btc going to struggle, so I expect to see BTC reach 13,000 and then might even test 8,000 and will bring him to area with more supply & demand.

Good Luck All

14 nov 2022

Nota

ichaelpg
∙
just now

Update:

- FTX crash including the BS!
- Market gives us indications that BTC is going to break, and reminds in track to to go down even more...
- RISK OFF time, following on going QT and high interest rates

Good Luck All