Greetings fellow Steemians,
As we all know, the crypto market has taken a huge tumble the last few weeks. According to coinmarketcap, we are dancing dangerously close to dipping below 300 Billion in total market value (MV) off a high of 830 Billion in December of last year. Personally, I made some buys where I thought the bottom might have been back at a MV in the 400-450 B range, which I have taken sever losses on, but remain strong in my hold position. In fact, I'm looking to double down on most of my positions as the market plunges further.
As shamed youtuber, Trevon James, has claimed on his channel, Bitcoin will hit $5000 before going up. Whether or not you like the man, it appears he may be correct as the BTC value drops below $7000. Some are saying we will see highs of $65K or even $100k in BTC value by the the end of the year. Other sources are saying we are going for $0.
Where is the bottom of this crash? Is it around $200 B total MV, is it when BTC hits a low of $5000, or is it somewhere else?
What do you guys think? At what point should we all be doubling or even tripling down on investments as we anticipate rock bottom and put down-payments on homes and luxury vehicles?
I, for one, am keeping a very close eye on the market. I think we will be seeing a turn-around sooner rather than later and I intend to ride that wave all the way back up to the moon.
