Crypto Twitter once again feels alive. The current vibe is anything like the one we had in 2021, but at least a few are putting out charts lately, pointing at indicators and dedicating time to trying to guess what's next for Bitcoin.
They'll all going to fail :). Seriously now... Did anyone predict accurately anything in the past two years? I sure know I didn't, and I actually missed some really juicy profits that I could have pulled off the table in the past bull market because I was naive enough to believe the $100k+ BTC and the super-cycle theories.
Supercycle my ass... Maybe we are in a super cycle already... Maybe these "painful corrections" are part of that super cycle. If BTC will reach $1 million in the next couple of decades or so then the current bear market will be unnoticeable on the all-time chart and that's when we will realize we were in a super cycle all the time.
Meanwhile, the bear market is "discomfort provoking". Such seasons are actually a blessing for individuals like @saphirecrypto or @empoderat who have pulled out decent profits when the time was right and are now probably loading heavily for the next bull season. For plebls like myself, especially when living off crypto, it's not "the best time to be alive".
I will make it, I'm sure of that, I ain't a pussy and I know bear markets don't last forever, but when is this current one going to end? Good question. It is so good that probably no one has an answer to it. "Will $12,700 be the bottom?" Probably, we don't know that either...
What's with this $12,700 target for an absolute bottom for BTC, though? Well, I stumbled upon it on Twitter and I thought I should wrap a @leofinance post around it and milk the rewards pool with it, cuz that's what leeches do. Right?!
According to the guy who posted this target on Twitter as an ultimate bottom for BTC it seems that this should be the level of maximum pain for the market... As if we didn't have enough pain already :(. I'm not gonna say it can't happen, because I frankly don't know that, but let's not forget that during the 2021 bull market we've had some really nasty blow for BTC right after it touched $64,000. That didn't happen in 2017, though.
A few good months before the peak in 2017 there was only up for the whole market nothing like that correction to $30,000 we've experienced in 2021. Now we've witnessed a different behavior of the market.
But, what if BTC really goes that low($12,700) sometime in the near future? Well, ETH will probably fall to $800-$900, HIVE to something like $0.2, and so on... It's not like we've never been there or that the crypto market will die a sudden death.
No, sir. So far, the market has done nothing but repeat a four-year cycle over and over again. All thanks to the Bitcoin halving and not anything mass adoption related. I used to believe that adoption drives the price of BTC up but it's actually the halving that does that.
Before I put an end to this shit post I will ask you to look at some altcoins charts from the past cycle. You will observe that almost every altcoin that has survived for two cycles so far has at least 2Xed its previous ATH, and the current correction is well above the 2018 average level.
So, if BTC falls to $12,700 alts will definitely follow, it will take them a few months to recover but once we enter a bull market again, it will be epic. If BTC will reach $100,000 will it matter if you bought at $12,700, $16,800, or $20,000?
Thanks for your attention,
Adrian
