$100k bottom of the next bear market
It’s bitcoin and anything can happen, so I’m open to Bitcoin falling to any price. However, I have two points:
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Everyone is waiting for $45k to $70k bottom to buy more at the next bear market bottom. In fact if Bitcoin didn’t get ETF’s and governments buying, and the genius act to support crypto in general. The bottom is usually near the last top, so around $70k. But that will get front run by big players and retail. So $70k or anything in the 70’s won’t get hear, and the ETF and government adoption might certainly not let it get there. Plus all of the holding treasury companies I forgot to mention.
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This amount of selling and floor holding at $100K is creating a floor. We may see this as the bottom of the next cycle (or more than likely the $90k’s for a brief time like a day or so)
My gut feeling says this is coming. I think if it steadily climbs like it’s been doing, then by February to June (somewhere in there) fomo will set in, not to the new crowd that used to get pulled in. But this will be crypto bros that are used to timing the market. They will have sold in the 100k-$135k range and by $150k there will be none left. They will start fomo-ing in around $160k to $180k which will create the blow off top.
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from Bitcoin - The Currency of the Internet https://ift.tt/lYS7530
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