A massive Bitcoin correction is coming. This was the peak imo.
Ask yourself this question.... Why did Bitcoin move now?
Simple answer it is a pump into events in a few months and will dump.
They pumped it and promoted the pump mainstream to get newbs to chase at the high.
Now the important part that nobody else is talking about except me!!!!
Look at Bitcoins chart over 15 years. It either drops or runs flat when the FED cuts rates.
What is coming soon? Multiple Fed cuts and a new FED chief. That is why they pumped it now.
Remember Bitcoin is traded against the dollar. When the dollar is cheap Bitcoin falls. When the dollar is expensive Bitcoin moves.
Form 2017 to 2020 the FEDs left rates unchanged and low... Bitcoin traded in the 7k-13k range for those 3- 4 years...
In October 2021... They dropped it hard from 60k to 16k in 2 years (shakeout). Used the Sam Bankman story as the catalyst.. Investors knew rates were going back up in the near term so they got people out.
What happened in 2022 after Covid to justify this 3 year bull run.... FEDS KEPT RAISING RATES AND KEEPING THEM HIGH and here we are at the end of that cycle.
Expecting this to slowly start dropping at this level, for the next year or 2.
Ask yourself this question.... Why did Bitcoin move now?
Simple answer it is a pump into events in a few months and will dump.
They pumped it and promoted the pump mainstream to get newbs to chase at the high.
Now the important part that nobody else is talking about except me!!!!
Look at Bitcoins chart over 15 years. It either drops or runs flat when the FED cuts rates.
What is coming soon? Multiple Fed cuts and a new FED chief. That is why they pumped it now.
Remember Bitcoin is traded against the dollar. When the dollar is cheap Bitcoin falls. When the dollar is expensive Bitcoin moves.
Form 2017 to 2020 the FEDs left rates unchanged and low... Bitcoin traded in the 7k-13k range for those 3- 4 years...
In October 2021... They dropped it hard from 60k to 16k in 2 years (shakeout). Used the Sam Bankman story as the catalyst.. Investors knew rates were going back up in the near term so they got people out.
What happened in 2022 after Covid to justify this 3 year bull run.... FEDS KEPT RAISING RATES AND KEEPING THEM HIGH and here we are at the end of that cycle.
Expecting this to slowly start dropping at this level, for the next year or 2.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.