It's been a while since I expressed my opinion on how I see BITCOIN.
I won't deny it, things aren't looking very good.
There are a lot of retailers at a loss given the correction that's happening today...
It also scares me to think that, just as BITCOIN ETFs have helped attract a lot of "lazy" people to buy it quickly and without complications, it could also cause a "stampede" of these same people if we don't hold what I believe is a key level.
What I mean is that ETFs have facilitated the entry of many, but they can also facilitate their sale... and perhaps with quite an acceleration. In any case, I think we have a key level around $105,000, where I'm sure many STOPs are located.
If we break this level, we could possibly conclude this campaign and travel to $94,000 as a likely bottom.
Although, in my opinion, I expect a broad rebound and not a break of $105,000.
We'll see.
Stay safe.
I also expect us to turnaround above 100k. Worst I see is a small dip below to ~98k. Another leg up is waiting imo just afterwards the current correction that should Take us towards new ATHs.
I am wondering where the bull marke eds and where to start selling my ETF shares. I converted some of my break even stock etfs to bitcoin etfs and luckily was able to make up some of the stock etf losses. But I here you and I am also planning for my exit from Bitcoin ETFs but it is tough to guess the top and there is a chorus of this time it will be different, which usually means it won't be...LOL
I don't want to imagine what the sentiment will be like if BTC drops below $100K. It could also be short lived, like a V shape recovery. But hopefully it doesn't happen until next cycle. Fingers crossed.
I haven't checked it too much, but I have noticed less news about BTC since its been sidewways or down lately. However, lets hope that 105k support line holds otherwise it will probably hurt other cryptos too.
I haven't check bitcoin in a while, that's quite a dump, explains why hive is low
Well, any altcoin follows BITCOIN