Is it safe to say that we will not see Bitcoin diving under $25K this cycle? Yes and no... As usual. While personally, I see BTC going higher and higher over the next couple of months, rallying followed by a well-deserved correction, we can always take into account black swan events such as the 2020 Covid one, which can take down all the gains the market has amassed over the course of a few good months.
Chances are that if it wasn't for Covid, we would have had a way higher top for BTC. But after it fell from something like $8,000 to $3,000 in a matter of days, it was a bit hard to strengthen the belief of crypto market participants in the gold corn once again. Elon Musk did that to some extent when he put the "Bitcoin accepted here" label on his Tesla showrooms.
Now we might see DOGE getting somehow implemented into X (Twitter), the social media platform that was bought by Elon something like a year ago for $44 billion and is currently valued at $19 billion, with more than half its value being shaved off in one year for Twitter. Elon is confident in making Twitter the "everything app," and according to him, we won't even need a bank account anymore in one year if we are using Twitter.
That's a bold move coming from Elon, the DOGE lord... Some might ask now why I keep mentioning DOGE in this post. Well, it's because DOGE is one of my favorite cryptos, and it's one of the oldest ones in this space. This thing is almost 13 years old, and in 13 years of existence, the blockchain has never gone down, unlike Solana, which is pumping hard lately.
Not many upgrades have been made to DOGE, and it's still running smooth. It's cheap to use, fast, and you can buy a few hundred of them for $100. Why wouldn't you love DOGE? 😁 It could make you a millionaire one day...
It's all about the four-year cycles with crypto. It's simple, and despite that, many of us overlook it. The next Bitcoin halving is something like 166 days away, which is 3.5 months. Once that happens, it's bye-bye time for the discounted days of BTC.
What's interesting about this event that will occur in the spring of 2024 is that most of the Bitcoin spot ETFs are due to be approved in March-April of the next year. Funny how the dates coincide so much... Imagine the FOMO, the $5,000 green candles, and the greed once the first BTC spot ETF will be approved, combined with the increased scarcity that the halving ultimately does on Bitcoin.
But why aren't plebs FOMOing into BTC right now? Why didn't they buy when it was $15K, $20K, or $25K? Why do you have to wait for these things to be approved and for the price to reach insanely high valuations before growing your bags... Because plebs will always be plebs.
Instead of paying attention to what has driven the crypto markets for over a decade, they're paying attention to "the looming recession" that refuses to come, to the societal collapse that is nothing more than a show to keep people distracted while the elites amass more power and control over us and the resources that we need the most.
You'll grow a long beard waiting for that "looming recession" and for society to collapse, and once the S&P500 and crypto markets peak again, you will once again regret not buying the bottom. You, the reader of this post, might not be in this position, but I bet many will feel the way I felt in the past bull market, holding tiny bags and drowning with them tied to my arms.
Once BTC reaches $100,000, the confirmation bell will ring, and the masses will start buying again because it's going to a million. When DOGE reaches $1, taxi drivers, McDonald's workers, and your grandma will buy some because it's the standard, and "DOGE will be $10" in no time... That's not the way to do it. When crypto goes ballistic, it's time to DCA out of the market because the end of the bull market is close.
It's the same story every time. That's why it's important to have a plan and execute it once the targets are met. If you don't have a plan, the euphoria phase that the crypto market will be sucked into will drown you and take you away with it into another cold bear market. There will be a new bear market (no signs of a super cycle yet), and there will be buying opportunities once again.
But why not take them now(like Microstrategy does)? While BTC is doing great, some of the good altcoin projects are still down something like 90% from their all-time highs. I'd say this is a good entry point. I know I bought my stash at a 92% correction from the ATH. I might be lucky, but sometimes we create our own luck. This thing is not airdropped; you have to make it yourself. Have fun all the way up, peeps, and don't be greedy!
Thanks for your attention,
Adrian
I love dogs
Me too.
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I think once Alon Musk gives a positive message about DOGE coin on 'X' (Twitter), its price will go higher.
I believe he will somehow implement it into Twitter.