Before the court's ruling in favour of Grayscale, there were tons of voices that roared about Bitcoin falling back to 10k levels for bottom confirmation. However these bearish sentiments were no different to those of previous bear market when almost everyone claimed that Bitcoin would retrace to $1k. But that didn't happen and neither happen $10k.
There's a long list of people who came out to declare a doom for Bitcoin when FTX Empire fell in Shreds last year. However the list is indeed too long to overhaul, the notable persons who predicted Bitcoin go below 10k are:Peter Schiff, Mark Mobius, Morgan Stanely.Even though Bitcoin has remained above 20k while these predictions came out. These predictions are actually less toxic because these are no compare to Bitcoin being declared dead 474 times.
Congratulations Bulls! And to all my Bear friends a bit of an advice, "This is market and everything valuable with a limited supply only goes higher". No one can deny that Bitcoin is valuable and the fact that it's scarce, makes it invincible.
Face it! Bitcoin is up nearly 100% (not for the first time) from the lowest of 2022. Bitcoin started trading at $0.008 in 2010 and reached about $70k in about 12 years. Even if we take that Bitcoin started with $1, it's multiplied 30000 times for its current value. Bitcoin is adopted as legal tender, institutions are lobbying behind it, people are getting over the notion of paper money. The times are changing my friend! And times will fly high on the wings of Bitcoin.
Bitcoin Won't be at $10k ever again because the worst that could possibly happen has happened. Now we are far ahead of the tempest and looking at clear skies ahead. Bitcoin is at a major stage of accumulation ($24k to $30k) which it has achieved in full. The resistance remains above $30k. And once that resistance breaks free and when Bitcoin goes past $34K, there's no stopping till $100k. But there's always a point to note that Bitcoin won't straight away reach $100k. It needs some time, patience, halving, ETFs and above all more mainstream adoption. Until then rejoice, as Bitcoin won't ever be at $10k again.
As Always Thanks For Reading.
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