AskLeo - Wen Bull Market, Ser?
$20,000 seems to be a fair price for Bitcoin... for now. I've discussed it extensively in a previous post. As a matter of fact, the realized price curve for BTC sits now at around $22k, the level Bitcoin is currently at.
It was supposed to touch $100,000 back in 2021, remember? Well, looks like it didn't... PlanB's S2F model has failed, along with many failed projections his followers had, and we're now in the middle of a bear market.
Don't get me wrong, it's not that guy's fault that BTC has fallen right after it reached $69,000 and that we didn't got to and above $100,000. The math is pretty simple, there wasn't demand for it to fly any higher than $69k. Maybe next time...
There's not much demand now either and my take is that there will be a while before we see another bull market in crypto. We might probably have something like what we experienced back in 2019, a sort of a mini bull run, but a full blown bull market...? Not any time soon imo.
The next halving is scheduled to occur sometime in the middle of 2024 and we're two years away from that event. So far the halvings have been the main catalysts for every bull market in crypto and that will probably be the case from now on as well.
I personally started to believe in the super cycle theory a few good months ago and have somehow ignored the impact the halving is usually having on BTC, but the market has proved me wrong and it's probably time to reevaluate my strategy.
Personally, I believe that the next bull market in crypto will commence sometime in 2024. I literally have no clue if it will happen prior to the halving or a few months afterward, but that's what my gut feeling tells me now.
I don't know what the general economical environment will look like then, but I bet Bitcoin will defy that. What do you think, by the way, when should we expect the next bull market in crypto?
Thanks for your attention,
Adrian
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Great article!
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Before the year runs out I expected btc to move to 50k, we may get a major bul run before 2024
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Well, I wouldn't mind that...
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