Greeting guys...
After last weeks pump many believe that this is the start of a new leg up. My opinion is we still haven't fund the bottom and the has more of an exit pump.
My theory:
- After feds announcement on rising the rates the market responded by dumping and then pumping because the announcement was only for the rates and not for Quantitative tightening but that comes later maybe this week but the plan has already been in place.
- BTC is not even in the middle of its cycle the halvening is 2-3 years away so historically we are close to the bottom.
- We haven't seen a capitulation event
- Small players 'shrimps' are buying the dip like crazy
- we are not see and 70-80% correction
so that's some of the reasons i believe we haven't seen the bottom yet.
On the flip side the on chain data and the adoption is going extremely good.
