$BTC GOING TO 20K OR EVEN BELOW ISN'T GOING TO HAPPEN IN NEAR FUTURE
๐ซ The dump was evitable
๐ Inflation going high and FED showing no interest on rate cuts made it a high probability denial.
๐ This year marked the recovery of the crypto industry and an impressive bull run that made the entire market overheated and it had to cool off.
๐ The mega event of the year - Bitcoin Halving. And it is one obvious fact that the overbought mkt bites the dust once near halving.
๐ Last but not the least rubbing salt into the wounds is the War raging in Middle East.
Now above all those reasons, the entire mkt was having mixed reactions on the halving event. A major cause is that because of the mining risk, the miners are going to DUMP BTC as the supply gets cut into half overnight and they'll be forced to sell to keep the operations going.
That's usually what happens historically. And when things chill out we get the parabolic surge after some time as demand increases and the supply is less.
๐ข What's different this time is the price of BTC is still high. Imagine only four days to halving and BTC gave a weekly closing above 60K and trading above 60K (at the time of writing) even after going through a crash. So, the miners may not do that this time around.
Usually the price is much low before halving but that hasn't happened this time. So what we have is a situation where we may not ever get a big dump. It already happened. However because of the geopolitical tension we will get some more dump or that could be happening right now.
Which is why I say have some patience to buy the dip. When I mean BTC will go down it may go down 10-15%. But if we get to see BTC under 60K, start loading. Anything below 60K is gold and if we get near 55K or even below that's a lottery.
But as of now, it's a "NAH". Reason I wasn't posting since the crash was trying to put the missing blocks in the puzzle ๐งฉ. And looks like things are in the right direction.
