A week back, I wrote the following and some were skeptical on my bearish call:
"An impending correction is coming for Bitcoin, potentially allowing it to trace back down to USD $56,000."
π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―π€―
πππππ Turns out I'm right πππππ
Bitcoin now stands at USD $56, 757.56.
So, where do we go from here?
Will Bitcoin rebound stronger after hitting this support level? Well perhaps.
Perhaps only after we get more clarity from FED. And perhaps if people stop over-reacting.
Market tends to be irrational and overly-sensitive, over-selling when situations aren't that bad, and over-buying when situations are not backed by concrete data.
Now that significant retracement has happened, do your due diligence for those keen on re-entry (recommend to do it in trenches and not go all in). As much as Bitcoin can be a good hedge against inflation (in theory), Bitcoin somehow doesn't do well I the face of inflation / stagflation (in reality).
So, what do you guys think?
Is this a great time to accumulate or nopes?
Do yall expect Bitcoin and other crypto related stocks to fall further from here or rebound?
$MicroStrategy(MSTR)$ $Coinbase Global, Inc.(COIN)$ $Marathon Digital Holdings Inc(MARA)$ $CleanSpark, Inc.(CLSK)$ $Riot Blockchain, Inc.(RIOT)$
ππππππππππππππππππ
@TigerStars @TigerCommunity @MillionaireTiger @Tiger_comments @TigerEvents @TigerWire
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
