If history rhymes or repeats, this is a potential correction scenario based on parabolic bull runs occurring in mid 2015. This is, of course, if we truly are in a bull market. If we are actually just completing a bear market rally, we could re-visit the $3000s again. I'm currently in cash, waiting for a good time to accumulate, potentially around the $5k mark, if not lower.
Fundamentals are looking good for the crypto-space. The Fed is mulling over a potential rate cut - some economists have increased their chances of rate cuts in late Q3/early Q4 of this year. Rate cuts due to recessionary headwinds could drive more demand for bitcoin, especially as the USD loses value against other currencies.
Fundamentals are looking good for the crypto-space. The Fed is mulling over a potential rate cut - some economists have increased their chances of rate cuts in late Q3/early Q4 of this year. Rate cuts due to recessionary headwinds could drive more demand for bitcoin, especially as the USD loses value against other currencies.
Note
My long term (optimistic) forecast for BTC going into 2020 and 2021, reaching its previous ATH around Dec-20 and it's new ATH by the end of 2021. Let's hope history does at least rhyme...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.