I'm not saying this is a fake pump or it isn't. I have no way to know. But there are plenty of reasons this pump could be real. Mainly that all the bad news is priced in.
The market already sold off in expectation of huge inflation and rate hikes. All we need is the idea that theres less inflation than we thought going forward and lesser rate cuts and the market is free to take back off to higher levels. It doesn't mean we will instantly run back to all time highs but what if under this new current reality of fewer fed hikes the market decides bitcoin should be at $30k instead of $19k?
We don't need tons of volume to make it real. The entire last 10 year run in the stock market was super low liquidity and low volume. The end of the crypto sell off was not high volume. There was just no buyers so it went in free fall with every seller. Once the sellers are exhausted a few buyers coming in can do the opposite.
Again, I'm not making a prediction but I don't see any reason this needs to be a fakeout and the fact that people are now coming out of the woodwork to say it is makes it seem reasonable that maybe its not.
Posted Using LeoFinance Beta
I have a similar feeling tbh. I've been waiting for maximum pain but it never came and now we're seeing something like a rally, so that kind of makes me pessimistic about it all.
$30k is a fair range and is still bearish, all things considered but a much better bearish situation. Time will tell.