Based on 5 years of experience observing and participating in the market, I believe we can somewhat predict Bitcoin and Crypto's movements in the upcoming period, especially as the year-end holidays approach.
The Market Will Move Sideways With Little Volatility
As usual, the whales and market makers often see Christmas and New Year as a time to rest. Therefore, the market tends to move sideways with low trading volume and not much significant volatility.
Furthermore, after recent price corrections, whales and large institutions have taken profits. This may be the time they use their profits to spend on luxury items: a Ferrari 812 for a nephew, or even buying more real estate in expensive areas like the Malibu coast.
The Likelihood of a Christmas Rally is Very Low
Given the current situation, it is very difficult to expect a rally during the holiday season. The whales will not be active until the end of January or early February. This is the time when they will return to continue adjusting the market and create new momentum.
Growth Prospects for 2024
When the market starts to heat up again at the beginning of next year, we can expect a strong bull run. Bitcoin has the potential to reach a price range of $120,000 to $130,000, while altcoins may also double their current value.
HODL Strategy
For those familiar with the crypto market, this is a time to be patient. Hold your assets (HODL) and avoid panic during this sideways phase. History has proven that those who maintain their faith will reap significant profits when the market recovers.
Note: This is just a personal opinion based on market observation experience. Investing in crypto always carries risks, so please research thoroughly before making financial decisions.
DYOR! #Write2Win #Write&Earn $BTC