After a year of losing market capitalization to dropping 60% of its price, Bitcoin is currently trading at $16,500. The question that many of us ask ourselves is, have we touched the floor?
I am not an expert nor do I have great knowledge but I have to say that I don't think we have hit the ground yet. Normally when we hit the bottom of a bear market there is an investor capitulation, people don't want to hear about investing and stay out of the market. On the contrary, these days there are still many investment funds with great exposure to the market and people talk about buying while carefully following everything that happens. I hope I'm confused, but I think there is still a lot of damage to take for the feeling to change. The macroeconomic context is bearish, the analysis of the fundamentals suggests a fight against inflation that is going to destroy the economy, and various geopolitical conflicts.
Regarding the cryptocurrency sector, we can still see a lot of fear and new disasters cannot yet be ruled out after seeing the fall of LUNA, FTX, Celsius, 3AC, and many other companies in the sector in 2022. BUSD for example has lost 1/3 of its market capitalization in two months. We will remain attentive to what happens throughout 2023.
Do not forget to follow all my advice if you want to lose your family because you have put the rent money in "coins that are worth cents but can be worth thousands of dollars"
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