The suggestion is between late Friday or early Saturday and look, today is that Friday. There has been a lot of writeups and suggestions. Scary predictions, FUD, hypes and the rest of the things have not been missing. Speaking of 'the rest of the things' one that has been heart melting has been the gradual liquidation in the crypto market. Indeed, not all will love to hear of it. The pursuit bof better positions ahead of this halving has brought about an inevitable loss. Has the market finally settled? I just peeeped in and indeed there is no much advise to give at this stage. Market assumptions and predictions are real, yet, the DYOR should not be undermined.
The 100k prediction after the ETF didn't work out, perharps there is no going back from here after the halving. Do I doubt this possibility? Of course not, we've seen market price changes this few days. Who even saw Bitcoin bypassing the $70k mark. The 365 days outcome has always favored bitcoin price after every halving so yes possibilities are high. The market has been down, a punch at bitcoin has always proven to be a crush to the altcoin industry. Can the bulls resist the bears after this halving within its first ten days? One thing is certain, people( investors and firms) will be selling. Halving the 6.25 block reward to 3.12 creates a lot of difficulties so miners are indeed part of my selling list. Depending on how many mining farms are baiting the halving, the impact maybe very visible.
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Investors are scared already, with an unresolved Israel-Iran war boiling up, are we facing opportunity or a lost trap. Some may feel the halving should be rescheduled but no, it's not done that way, the timing is irreversible. Medium investors may be the ones at huge risk should another liquidation hit within the one week after halving. No prediction at their stage is too certain, I only rely on the 365 days and if you are not a master of patience, back off( it's only a suggestion). Behind risk, they've always been opportunities, if you can play your cards well, you could increase your digits or Vice versa.
How will the ETF firms play their part after the halving? We saw them giving out market resistance. We have heard of Grayscale being a partial disadvantage of the current bitcoin market, huge sale offs must reflect in the candles. The center of it all will be Blackrock. Without doubts, these financial giants have bulled the bitcoin price since January also accompanied by the other spot ETF firms. Even if bitcoin should be let loose like a falling knife, many have confidence these guys will find a way to hold it, they really need that price resistance. With institutional investors in the bitcoin game there is really a hedge.
Bitcoin ETF + Google ads+ Halving is a good combo but they'll have to fight to combat FUD that is rampaging the market. A lot had planned to long the market to get some substantial profit. How do you get that done NOW (War news, bearish miners intentions and uncertain whales decisions) is surrounding the whole bitcoin system. A friend of mine just wrote a post that he is currently stuck in the bitcoin trap and when reading his analysis I knee he indeed is.
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I begin to wonder how the altcoin market will look like should that first bitcoin halving month not yield result. I know the current bitcoin price recovery is fuelled by daring bulls. Even in uncertainties, you'll have to make decisions or you keep your money probably in stablecoins. When you are used to manipulating money for profits, you can't just stay and watch ( could this be addiction or greed?).
I have personally been waiting for this moment to come, how it will affect the altcoin market is my major concern. Truth be told, a lot of us don't have much to gain from bitcoin's price movement unless it glows the Altcoin market. Wishing bitcoin well in this halving but yet we know, it's not a matter of wishing this decision will be made through a tough struggle between the bears and the bulls. Chances of success are high after that wonderful comeback. It's not the first time we've heard of war threats, the Russian-Ukraine war did some damage yet bitcoin later recovered. All I can suggest is that long term investors will make the most of it, patients will be required especially if it first shows declining intention.
To conclude, let me add, bitcoin resistance at the 60K market is a good one after the market uncertainties. The halving is just hours away, will it work out just as the masses predicted? The 100K, 200K or even 500K price push. It would be a good one although bitcoin would be drawn far away from local investors in the process. What are you takes in the upcoming halving?
Posted Using InLeo Alpha