Is the Crypto Bear Market Finally Over?
Bitcoin has been range-bound around $22-24k for the past 1 week. This has made everyone excited and asking the question that always comes around after a little relief rally: is the bear market finally over?
I think many of you can already guess my sentiment around this. I dollar-cost average into BTC while spending 99% of my time focused on building the LeoVerse.
The daily movements of Bitcoin are impossible to predict. If you could predict them, you'd already be a billionaire.
That being said, there's a lot of value in being tapped into the market and aware of the macro scale of things while simultaneously having a smart, seasoned approach (like DCA).
In this clip, that's what we discuss!
- Bear market over when there's relief, but not really
- BTC broke above what most were expecting, we're above 18
- Pre FTX we were above 20k - after we break that we might be slowing out of bears
- Most people expect recession for 12-18 months
- Layoffs, no money around, no real yields, Twitter staff off
- Not expecting btc to go to 50k given the current global situation, but it could sit between 20-29k
- Sub 20k is oversold according to Khal
- Strategies are not short term, DCA every day, MakerDAO, pay bills and invest - same strat as in 2018
- Buying at these prices feels like buying at 5k in 2018
- FTX debacles don't affect those that invest smart and stay off exchanges
- Cat doesn't see how a bull market arrives, maybe rallies after the first semester. Loving a sideways year
- Sideways allows you to DCA
- When normies ask, Khal tells: If you have the money setup an automatic DCA purcrhase - if they want to get into alts, then the advice is to create content and the Leoverse
- Just do2earn platforms, stack BTC and in the bulls you'll be fine
- Khal's chunk of portfolio was made on earnings from steem/hive/leo
- Hive example of selling at $2 and rebuying below 40c
- Ability to think long term
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Posted Using LeoFinance Beta
23K BTC is fun but there are so many variable that indicate we are not off the hook yet. The biggest indication would be the fed rate hikes and the potential decision to pause the hiking for now. There are many on #threads predicting 0.25 or 0.5 percent hike and the potential narrative to stay hawkish. That's what Canada did in January. It means the market will still be dubious about the hikes and that is very similar to what you are predicting- market going sideways but positive mini pumps. Let's see how other variables will factor in.
https://twitter.com/15067216/status/1620532241297444864
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Short answer yes. If it wasn't the case we would be back to $18k by now.
Who's buying? Mostly institutions as largest stablecoins inflows to exchanges happen during working days. Plebs will be left behind as usual.
Global economic problems are negatively affecting crypto markets as well as all money markets, so some investors remain pessimistic, preventing Bitcoin from going higher. In fact, they are right because economic problems prevent many people from living comfortably. But I believe the bear market is over so I don't think BTC will go back below 20K.
Posted Using LeoFinance Beta
I also think the market will travel sideways especially in the first three quarters of the year. Q4 might be different and we could potentially see a huge uptick. DCA will always be the strategy to implement during current market conditions.
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