If it wasn't obvious by now, Bitcoin is here to stay, and whether we like it or not Bitcoin will continue to Exist as the Worlds most important invention.
In case you haven't heard the news so far, PayPal and Visa are both getting into Bitcoin, thus opening the door for hundreds of millions of people to get involved. And while It may seem like something not that important, think of it again. Imagine how much credibility BTC just got in the eyes of regular non-believers - mass adoption might be closer then we think, bearish narrative made us very careful predicting such things.
And while definitely not financial advice, I believe we're in the middle of a bull run and $100K per BTC seems reasonable after all (funny how easily narrative changes haha). What most don't understand is how quickly these things happen, institutional mania has already started and BTC has yet to unlock its full potential.
Sure, the market will remain to be volatile and things like %20 fluctuations will continue to happen, but it's safe to say that as more money enters the market, the less volatile it'll become.
What I feared the most tho, is that if #BTC fell down below strong support around $51K It'll continue going down forming a bearish trendline.
As it can be seen, the critical support area is around $50,000, and given that we bounced from there, it's easy to conclude the market sentiment hasn't actually changed from being bullish.
Therefore, the next points of interest can be made through the Fibonacci extension, where $73,000 and $92,000 become the next points of interest if Bitcoin’s price breaks above the current all-time high at around $61,000.
Bear Market
And while we're all drawing parallels with the last season, I wouldn't be surprised to see this cycle playing out differently. Given that general interest is growing, not only regarding BTC, rather whole crypto, the idea of super-cycle isn't excluded.
I could be wrong on this one since I used the internet bubble as a point of reference, which doesn't have to reflect crypto, however as we continue to deliver, the interest will rise as well, the only thing that matters is to what an extent?
What's the best time to take profits and wait for a better entry point?
No one actually knows opportunity costs will be big though, you have to keep that in mind, however, don't allow yourself to be left behind due to being greedy. Greed will fuck you up. Just because you sold some tokens doesn't mean you won't be buying back when the moment is right. Take it as a game and you'll be a lot more aware of what you're doing.
Fun ride ahead boyz.