akunbajak
Regular Member
- Apr 25, 2021
- 223
- 120
I have the same opinionRecovery should take 6-24 months. This is based upon historical trend of bitcoin pricing. Also, if btc is not going up, none of the alt crypto will be going up much too (except those that are pump and dump).
From my computation, btc could drop till $18k before strong rebound starts to happen due to value buying. A fair price to purchase for retail investor would be between $16k - $22k range. Let us not talk about institutional investors supporting BTC value. They are sharks and exist only to profit from the sheeps (retail investors). For Institutional investors, they are able to short BTC, thus covering their position without selling their holdings via future contracts. Which means people like Elon Musk could be profiting without the need to sell their BTC, and he did keep his word. He did not sell his Dogecoin nor btc, he simply shorted via futures. These big players are too smart to sell outright. Due to their huge position, their selling can easily create a huge drop in pricing which could mean heavy losses due to limited liquidity in the crypto market.
Note even forex (which is much bigger than Crypto in terms of market cap) has issue with liquidity when adverse news occurs. When liquidity issue occurs, the drop in price could be very drastic.
Also remember for you to make money in crypto, someone has to lose money or willing to lose money by buying at a higher price. Same concept as forex trading.
Don't forget about corona, if what happen in India spread to the world, then lockdown are coming and people will buy bitcoin again