🔥 Bitcoin's Worst Case Scenario: Update
Around 4 months ago I made an analysis where I discussed the, in my view, worst case scenario for BTC. Where I previously thought it would be a highly unlikely scenario, the probability of it happening have increased by a lot as of late.
Both the stock markets and crypto market are looking worse now than they did in July.
At the moment, most people (me included) are confident that we're going to get another drop. The question remains, where is the bottom?
$14,000 is a number I hear quite a lot, which is based on the top of the 2019 bear market top. I think we can go much lower than that, think like $11,000. Potentially, we can wick even under it.
In my view, the worst-case scenario for BTC would be a drop all the way to the dotted support line. Not saying it will happen, but keep some extra cash at hand to buy the "dip".
Interesting times ahead.
Both the stock markets and crypto market are looking worse now than they did in July.
At the moment, most people (me included) are confident that we're going to get another drop. The question remains, where is the bottom?
$14,000 is a number I hear quite a lot, which is based on the top of the 2019 bear market top. I think we can go much lower than that, think like $11,000. Potentially, we can wick even under it.
In my view, the worst-case scenario for BTC would be a drop all the way to the dotted support line. Not saying it will happen, but keep some extra cash at hand to buy the "dip".
Interesting times ahead.
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