So, the big question is, has Bitcoin hit bottom yet? In my nonprofesssional opinion, not yet. To be upfront, I am not an active investor in Bitcoin. While I maintain my bags of BTC from previous purchases, I have not bought any more in recent times. At the same time, I do not intend on selling any of my BTC, as I am content on holding my current position for a long time. I call myself a passive investor of BTC, since my stacks collect dust for the foreseeable future.
With that said, while I dedicate most of my current investing towards alt coins and nfts, I may be tempted to fill some more bags if the price is right. I still don't think Bitcoin has hit bottom. BTC going down to $25,000 is not unthinkable. $30,000 seems to be the current dance, but a slight change in the air can see BTC drop.
With stocks having not quite touching bottom, cryptocurriences are susceptible to dropping even harder. My current plan is to wait and see when it comes to BTC. If $25,000 becomes the new bottom then my crypto-senses will start tingling. I could see $22,000 being a realistic bottom, where I might be tempted to get back into making BTC purchases. However, if it drops below $22,000, then $17,500 will probably become my new entry point. Normally, trying to time the market perfectly and starting new positions at the very bottom is not likely. However, as I said, I'm not really looking to add more BTC to my current stacks. But at $22,000 I might rethink things, and at $$17,500, I might start adding in small quantities. Let me know your plans. At what price will you start stacking BTC?