I don't think it's possible for you to fully understand my long-term views on $BTC .🙃‼️‼️
I will leave my thoughts here. I have posted this before.
I'll post it again.
BTC is currently near the peak of the last bull market, which was around $70,000.
On Mar 14, 2024, the all-time high was $73,750.07
Personal weekly support:
I think the $57,000 mark will be in focus.
For this support
It will be available from March 2024.
In fact, the price has broken the key support of $57,000 several times but has always managed to bounce back up to that level.
Many people are pessimistic at the moment, but I believe that even if it falls below $57,000, the price movement will be strong and it will return to $57,000 again.
BTC's bull run has been ten years long and has been driven by surpassing the previous bull market high (shown in red circle).
As explained above, the current position is near the peak of the previous bull market. Also, BTC has fallen by -30% this time, but it also fell by -33% in 2017, but it has since updated its peak.
※ Before the 2020 bull market
It has now hit a new record high after a 22% drop.
At present, the BTC cycle has not been negated. It should also be noted that GOLD and NASDAQ have also made similar price movements and are reaching new highs.
NASDAQ / BITCOIN
For me, I still don't think we've seen a bull market yet. For a bear market to occur, we need to reject this 10-year cycle.
This means that it needs to clearly break below 57k. However, even after breaking below 57k, BTC is still moving back up to 57k.
Every bull market was preceded by a -20% to ~30% drop, which left many people pessimistic. There are no guarantees in investing, and we don't know what will happen. However, I personally believe that the current situation will see the same cycle this time around.
As long as it maintains the 57k mark, I think it will reach a new high and rise to $88,000.
