The current crypto cycle is probably the most deceiving one so far. It has not fulfilled the "prophecies of the bulls" of a few years ago pushing Bitcoin to $100k and above, but it has not served the bears either who were for a few good months calling for BTC retesting the 2017 ATH this year.
I'm somehow into the super cycle boat as I don't see the halvings as impactful as they were for the past decade. If you look back at the previous boom and bust cycles it is more than obvious that these have been triggered by the halvings occurring every four years.
I can't claim that such events shall be ignored, but neither do I see them as impactful as they once were, the big chunks in terms of per block rewards for miners have already been sliced. Miners are no longer even that incentivized to sell in order to keep the business profitable as they were supposed to do just a few years ago.
On the contrary, it seems that quite a few of the large mining pools are rather staking their earned coins, making more of them and some have even gone public, thus the rush for selling is no longer there. Times have changed and there's nothing we can do about that.
'Original photography, sir. Thank you, sir ;)*
BTC is currently "once again" changing hands at $40k. Yeah, I know, that $40k... I guess @mindtrap is more than thrilled about that. BTC was close to $70k just a few months ago and my take is that it will climb back there once again by EOY.
I don't believe we will see Bitcoin under $30k anytime soon, if ever, and I truly believe that the uptrend is intact. I'm no TA specialist, but the higher highs and higher lows that BTC is painting for some good months are more than obvious.
The way I see it, or better said feel it, it will be chopping between $40,000 and $50,000 for some good months ahead, it might even fake out for a bit over that $50k strong border just to correct down to the doubling curve(courtesy of @edicted) of around $40,000 in August- September, in order to get more steam for the years end rally. A rally that might not blow off in December.
I still believe in a $100k BTC, but I don't see it over $70,000 this year, thus my take is that the EOY will catch it somewhere near that level. I'd thus call 2022 the grinding to $100k year. What do you think?
Thanks for attention,
Adrian
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many of us have been grinding for 4 years so 2022 is no different and it would be good to see prices rise at some point. I am actually enjoying this period currently as have been topping up my bags and this should make a significant difference later on.
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Profitable portfolios are being built during boring market times. Something the mssses are overlooking
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This year is for building as the crypto market is moving at a much slow and stable pace.
I see bitcoin hitting 100k but it's not something I think will or might happen this year. We can be closer to that but I don't see it hitting 100k
Just in my honest opinion tho, the crypto market is too volatile for a soft-minded like me.
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Become strong minded then ;)
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Working on it....😎
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I also believe in 100k BTC but I don't think its going to happen this year. With the ETFs from big funds and BTC being more linked to the stock market, I just don't think we will see the huge pumps like before and things will be moving along slower.
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