Good Morning!
Thank G it's Friday and the markets seem up up up.
Now I am looking into the why but I am still searching for a good reason. Although it´s what I have been saying, we should see another up before the merge. Only I did not expect that up to be led by BTC, which is what happened this morning.
For sure a hell of a lot of shorts got squeezed and maybe squeezed so hard they caused this pump. So maybe that´s the answer right there, but usually, something triggers that squeeze and well I am a curious baby.
This still doesn´t mean that the bear market is over, but at least I can sell the dip I bought with profit. Profit I can use to buy the after-merge dip.
More Good News
But there is more good news big boys like the CEO of crypto asset fund Pantera Capital, Dan Morehead, is expressing bullish sentiment on Bitcoin.
"𝒀𝒐𝒖 𝒌𝒏𝒐𝒘 𝒘𝒆’𝒗𝒆 𝒃𝒆𝒆𝒏 𝒅𝒐𝒊𝒏𝒈 𝒕𝒉𝒊𝒔 𝒇𝒐𝒓 10 𝒚𝒆𝒂𝒓𝒔 𝒂𝒏𝒅 𝒘𝒆’𝒗𝒆 𝒃𝒆𝒆𝒏 𝒕𝒉𝒓𝒐𝒖𝒈𝒉 𝒕𝒉𝒓𝒆𝒆 𝒃𝒊𝒈 𝒃𝒆𝒂𝒓 𝒎𝒂𝒓𝒌𝒆𝒕 𝒄𝒚𝒄𝒍𝒆𝒔. 𝑨𝒏𝒅, 𝒐𝒏 𝒂𝒗𝒆𝒓𝒂𝒈𝒆, 𝒕𝒉𝒆𝒚 𝒍𝒂𝒔𝒕𝒆𝒅 220 𝒅𝒂𝒚𝒔. 𝑻𝒉𝒂𝒕’𝒔 𝒃𝒂𝒔𝒊𝒄𝒂𝒍𝒍𝒚 𝒘𝒉𝒂𝒕 𝒘𝒆’𝒗𝒆 𝒋𝒖𝒔𝒕 𝒉𝒂𝒅."
"𝑰 𝒕𝒉𝒊𝒏𝒌 𝒘𝒆 𝒉𝒊𝒕 𝒕𝒉𝒆 𝒍𝒐𝒘𝒔 𝒊𝒏 𝑱𝒖𝒏𝒆. 𝑾𝒆’𝒍𝒍 𝒔𝒆𝒆. 𝑨𝒏𝒅 𝒕𝒉𝒆𝒏 𝒘𝒆’𝒓𝒆 𝒐𝒏 𝒕𝒐 𝒕𝒉𝒆 𝒏𝒆𝒙𝒕 𝒃𝒖𝒍𝒍 𝒎𝒂𝒓𝒌𝒆𝒕. 𝑨𝒏𝒅 𝒊𝒕 𝒎𝒊𝒈𝒉𝒕 𝒃𝒆 𝒓𝒐𝒄𝒌𝒚 𝒂𝒏𝒅 𝒎𝒊𝒈𝒉𝒕 𝒕𝒂𝒌𝒆 𝒂 𝒘𝒉𝒊𝒍𝒆 𝒕𝒐 𝒈𝒆𝒕 𝒈𝒐𝒊𝒏𝒈. 𝑩𝒖𝒕 𝑰 𝒕𝒉𝒊𝒏𝒌 𝒕𝒉𝒂𝒕 𝒘𝒆’𝒓𝒆 𝒐𝒏 𝒕𝒐 𝒕𝒉𝒆 𝒏𝒆𝒙𝒕 𝒍𝒆𝒈 𝒐𝒇 𝒂 𝒓𝒂𝒍𝒍𝒚.”
But if you ask this little boy, he still foresees the bottom of the bear market somewhere at the end of Q4.
Those 220 days are an average and there is a long cold winter ahead of us. That winter holds lots of uncertainty in all markets. Rising inflation, upcoming recession, and the ETH merge will be history. So I keep holding some funds and try to increase my profits to buy this final Bear Bottom.
I expect that Bottom not to be as dramatic as 10K BTC. What I do expect is to come close to the 80% drop we have seen in previous bear market bottoms. Hence a 12-15K BTC would be feasible.
The Crypto Weather Forecast is my take on the crypto market, sometimes serious, sometimes sarcastic, often with a wink, and Always Honest.
