BitcoinLong
Bitcoin Longterm Part 2
Updated
Good day everyone,
Preamble
I am back with a new analysis of the current state of crypto. Before reading this idea, please read my last analysis.
My last prediction was pretty much spot on. Although the second target was a bit too high (predicting the tops of hype cycles is almost impossible). This idea is a follow-up.
Crypto in the last years
The last couple of years were highly successful for the crypto space.
People got to know, what the purpose of decentralization is and people got to understand why centralized entities are doomed to fail (in a lot of cases).
A high understanding of crypto/decentralization amongst the people is one of the most important aspects of growth in the space.
The fact that the last years were very successful and people are starting to understand the technology, creates a foundation for predicting the future of crypto.
Therefore my analysis for the next couple of years:
Crypto now
Crypto nowadays is in a very bad spot. Centralized entities are starting to fail and taking price action with it.
This was also very predictable... Economics 101: if prices get to extreme highs, people take profits which therefore cascades into an extreme price reduction.
These extremes can also trigger other events like the insolvency of centralized entities.
Prediction
For 2023, I see a very neutral/bearish state of the world economy. Inflation is still very high and cutting rates are not affecting this accordingly. Before the Mid-Term elections, I can imagine a slightly bullish state but after that, it will be a very slow and slightly bearish time. The price will consolidate between $13.000 and $18.000 with lows around the $10.000 mark. The end of 2023 and the beginning of 2024, will be the period that could turn the market around. At this period, projects that utilize crypto technology with real-world use cases will emerge. They are already in full development, but implementing this into the real world will take a lot of time and work. I see these projects get traction around this period. This will also open up a lot of new possibilities and essentially make crypto mainstream. This is also where a new hype cycle could start. The first target for BTC would be around $80.000 natural growth and could get into extremes like $200.000.
If you like this post, please leave a like!
(Not financial advice!)
Preamble
I am back with a new analysis of the current state of crypto. Before reading this idea, please read my last analysis.
My last prediction was pretty much spot on. Although the second target was a bit too high (predicting the tops of hype cycles is almost impossible). This idea is a follow-up.
Crypto in the last years
The last couple of years were highly successful for the crypto space.
People got to know, what the purpose of decentralization is and people got to understand why centralized entities are doomed to fail (in a lot of cases).
A high understanding of crypto/decentralization amongst the people is one of the most important aspects of growth in the space.
The fact that the last years were very successful and people are starting to understand the technology, creates a foundation for predicting the future of crypto.
Therefore my analysis for the next couple of years:
Crypto now
Crypto nowadays is in a very bad spot. Centralized entities are starting to fail and taking price action with it.
This was also very predictable... Economics 101: if prices get to extreme highs, people take profits which therefore cascades into an extreme price reduction.
These extremes can also trigger other events like the insolvency of centralized entities.
Prediction
For 2023, I see a very neutral/bearish state of the world economy. Inflation is still very high and cutting rates are not affecting this accordingly. Before the Mid-Term elections, I can imagine a slightly bullish state but after that, it will be a very slow and slightly bearish time. The price will consolidate between $13.000 and $18.000 with lows around the $10.000 mark. The end of 2023 and the beginning of 2024, will be the period that could turn the market around. At this period, projects that utilize crypto technology with real-world use cases will emerge. They are already in full development, but implementing this into the real world will take a lot of time and work. I see these projects get traction around this period. This will also open up a lot of new possibilities and essentially make crypto mainstream. This is also where a new hype cycle could start. The first target for BTC would be around $80.000 natural growth and could get into extremes like $200.000.
If you like this post, please leave a like!
(Not financial advice!)
Note
The consolidation between $13.000 and $18.000 will most likely not be the whole period. Lows of $10.000 are entirely possible as well as highs far above the $18.000 mark. Before a hype cycle, a slow but steady bull trend can occur and happen almost every time. Around next summer we could see that happen.
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