The Crypto Weather Forecast is my daily take on the crypto market, sometimes serious, sometimes sarcastic, often with a wink, andΒ Always Honest.
Sometimes it feels that everybody and his long-dead grandma, may she rest in peace, is talking about crypto, but thatΒ΄s probably because it's my#1 hobby.
Not my day job, just something I enjoy. And in times like these thank god itΒ΄s not my day job.
And I say a bunch of things that maybe not everybody agrees with. Like I have been saying we are in a bear market since early April. Then I was laughed at, now people are saying the exact same thing and everyone is nodding.
And of course, I am not always right. I expected to end last week on a green candle, what happened we did another red week??
What are the odds after 7 red weeks to having another red one?
So I can be wrong, I am wrong all the time. I just have been more right than wrong so far and thatΓ±s why I ainΒ΄t broke yet (not sure for how long if this bear market continues).
What I do not do is this!
If I ever do that peeps, just shoot me. These guys me be right sometimes, but I donΒ΄t wanna be right looking like that,
Urgent! Bitcoin going to 8K!!!!
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ItΒ΄s not even his own TA, that Lark is just repeating what I read already read and laughed at coming from the Guggenheim CIO.
Now in all honesty Lark is not even that bad, there are much worse. It's just that I tripped over his title this morning.
And while he is clearly trying to tell that he thinks last week's dip, when BTC tried to kiss the 26K seems to be the bottom, he goes and leaves room for that 8K Bitcoin.
Maybe itΒ΄s my young and feisty babyness, but I donΒ΄t do that poo. I donΒ΄t like leaving 18K of space: "Hmmm this looks like the bottom at 27K, but hmmm 8K is not totally impossible."
Lark like they say in Church, nothing is impossible. But it's also no fun trying to be safe all the time.
Having that said, I still predict a big fat green candle around or above 32K for this week. And I also strongly believe that the bottom for Bitcoin this cycle will be in July between 15K and 22K BTC (you see Lark I only leave 7K of space).
Both predictions are data-driven and I admit I can be wrong, but where is the fun in being right all the time.
Just FYI an 8K Bitcoin, is nearly impossible. With the current adoption and exposure, people will be on BTC like flies on fresh manure every drop below the previous low. We saw that with last week's dip, all of a sudden people are rising from the grave to buy BTC. And that will only get worse, so 8K NO WAY.
And I hope I am wrong because I will rather be wrong and rich on that one!
Have a lovely day, remember that hitting the like button is one of the few free things in life, and hope to see you tomorrow.
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