Bitcoin has been declining with some occasional increases. However, BTC may reach near 14.5k by 2023-02-15.
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Not enough historical data to confirm that was the bottom (at least 66.6 days are needed):
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When half of 2022-11 & all of 2022-12 data is removed, there is no increase in JAN chart:
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$24,666.66 then decline for 2023-02
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BTC may find bottom by 2023-06-06, after there is more historical data available.
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BTC may find bottom by 2023-06-06 (daily) (2022-01 to 2024-01):
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BTC repeating trend of 2022-07 & 2022-08 (possible double bottom or "longer flatter bottom", before the steady rise to the estimated peak of 2025-01):
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BTC may reach near 14.5k by 2023-03-15 or 2023-04-15
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BTC may stop declining before 2023-12. BTC weekly 2022-03 to 2023-08 BTC weekly chart from 2022-03 to 2023-08 reflects a $36666.66 to $15666.66 zone for 2023-04 (see green dashed-line). However, the strongest resistance zones, based off of today's historical data (on 2023-02-28), reflect a $32666.66 to $15666.66 zone for 2023-08-28 (see pink dashed-line).
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News: "Economist Harry Dent Expects Biggest Crash in Our Lifetime" " Bitcoin may go down more like 95%, 96%. Dent expects the crypto market may crash alongside stocks, with BTC falling up to 95%-96% from its November 2021 high. "
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There is a very high probability that BTC will decrease significantly from 2023-8-15 to 2024-01-15. Especially in 2023-12. recession prediction = 2024-01
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recession prediction = 2024-01
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(click chart to play) BINANCE:BTCUSDT 1W 2022-12 to 2024-02:
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$150000 to $250000 is still very possible for 2025
the corn is so level to level .. sooon as too many offside gogogogo amirite
KISS_Principle
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look at the chart vs the m2 money supply. it's already reached the prepandemic level when accounting for the 10 trillion printed since then. that money is still out there. it's gonna do some weird sideways ish for a couple months then blast off back to 40k. don't miss the rocket ship waiting for some arbitrary number you pick. all of trading view is short and smart money knows this.. shorts are gonna get squeezed bad.
day0
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@KISS_Principle, I'm holding the losses, but if I'm not buying more I'm sure many are not buying more. We will know if that was a historical bottom or scam (trick) in 2 to 2.5 months since the last dip.
day0
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@KISS_Principle, This is why I did not buy in 2023-01. Now it's -9.25% and a lot of buying volume was above $22,000. So they might sell the -9.25% loss now to avoid bigger losses. Inflation added to the -9.25% makes the losses feel like -19.25%. So I expect it will drop on further selling volume all or 2023-02.
day0
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@KISS_Principle, Did you see the drop that I foretasted for double bottom confirmation for all of 2023-03? After this drop though it will be nice to find a bottom entry.
relytrade
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Since everyone is waiting for that drop for so long, I don't think it's gonna happen.
day0
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@relytrade, I'm convinced it's going to be flat (find bottom) or drop by 2023-06. Springtime outdoor war activities are estimated to increase after 2023-01-15 and perhaps more in 2023-02 & 2023-03, so I'm holding down. I'm for sure not buying any additional until after 2023-06.
day0
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@relytrade, This 15th to 20th will be very interesting.
relytrade
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@day0, that was the exact same psychology going on back in 2018-19 bear market, everyone was like "going to drop" "going down for sure" "this is not the end", we all know what happened next... Not saying it's going to the moon now, but slowly, it's rising out of the bottom and ain't go back down there.
day0
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@relytrade, We shall see how BTC faces an increase in war and increase in recession or recession-like times in 2023 then. Maybe BTC will do favorable. I like to look at the 2020-03 dip after the bottom as a second bottom as an example. My original timeline was 2022-11 and I'm still holding this entire time. However, I still think the bottom will be confirmed by around 2023-06. Sometimes the bottom is confirmed with multiple months of steady positive gains. Often 30 to 50 days of positive gains is not enough historical data to deem is a a bottom. 66.6 days of historical data as positive is a better confirmation, based off of historical data and trend analysis.
However, I do respect your view as with no war and no recession I would have said and did say 2022-11.
What do you think about the 2023-03 short recession drop, then it went bull? Think that can happen again (short flash dip on recession-like month, then bull)? I'm holding this entire time, but not buy any additional for the speculation of a situation such as one similar to that of 2020-03 short recession & short temporary flash dip). Just to be clear without a virus factored in, only recession-like.
I'm curious what you think about the recession-like situation, because BTC has not been around long enough to measure how it responds to recessions or recession-like situations. Imagine if the stocks begin to -25% to -34% in 2023 as many of them have been in 2022, then the announcement comes out and BTC is supposed to go upward during this situation that is just an example? I would guess BTC, the answer as no: would dip first, then go bull.