Are we safe to say the dump has been priced in?

8 ene

Here's my take on Bitcoin and the rest of the market.

As of Jan 3rd, we had a close just above the Halftrend, indicating a potential for further upward movement, since then there has been a decent shift in price, testing the 45k area. With the SEC's decision imminent on the bitcoin ETF's, we are likely to see a significant volume candle and potential for a big move as the Bollinger Band width percentile is facing upwards with price correlating upwards, suggesting there is more to this bullish trend. Whilst we are waiting for the decision, some altcoins have been hammered but are still trading above levels they were months ago, which is the key note. This suggests that its all part of the trend, and that soon enough we will have a resumption in price discovery for bitcoin above the 45k recent highs, and with this year the high chance of ETF approval, a potential for ATH territory above 69k. All of this is to be taken with a pinch of salt, however, as financial markets go up and down over time. Whilst nobody can say for certain whether bitcoin will go higher, one thing on our side is probabilities, looking at the indicators signals.

Anyway, whilst we await the ETF decision, I have been drawn to see the potential in small-cap gems, should we get approval, I have selected a few personal favorites based on supply and also technicals. My favorite of them all is OOE ~ OpenOcean's token. Severely undervalued for what it does, considering it's the governance token of OpenOcean with tokenomic's much better than competitor 1inch and a significantly smaller market capitalization.

I personally think that it is early days for cryptocurrency, even for bitcoin, still when considering these as long-term investments. I highly doubt we see solid coins such as bitcoin, ethereum etc dip below their prices at the analysis from 27th Dec, 2022 as we have came a long way, personally calculating the maths of a 90% worst case scenario correction would see bitcoin flying all the way to over 150k usd, then dipping back to create a double bottom at 15800ish. I just don't think its feasible especially when bitcoins corrections are getting weaker each time, for example the 2022 december bottom was an 80%~ correction from 69k, compared to roughly 85% correction the previous time in 2019 when prices were around 3100$, from 19800$. After bottoming out, bitcoin went to 69k, a gain of approximately 2200% - In the September of 2017, prices traded briefly at 2800$ and then rallied up to 19800$, a gain of roughly 700% - does this suggest that the bitcoin gains are growing and the bottoms are weakening?

Taking to the facts and all the information provided from the data, i would say that 100k is definitely on the table, if not higher, such as trading between 200 - 300k usd.

This may be the year we can say To The Moon and it actually happens, but as always not financial advice and do your own research before placing financial decisions as i am not a financial advisor.