So as we all know, the entire market is struggling with positive price action, but who cares? Crypto is volatile and -90% bleeding over time isn’t unheard of to see literal astronomical gains, but due to my personal speculation and (limited) research, I think we will have a serious crypto drought coming this year into next year. I’m not saying this because it’s a bear market, every long term holder has experienced at least one, but a historic sell off of Bitcoin, Ether, and stable coins coupled with the macroeconomic instability and countless other factors like the C word and uncertainty around the world could mean we see a massive drop off from here. Sure, $20-25k could be the BTC bottom and it’s nothing to worry about and we’re back to being overbought in 5 months, but I don’t think it’s quite that simple.
Particularly in the US, tomorrow is a pivotal day for the US markets for short term price action (I don’t have to tell you this obviously) and if Bitcoin happens to slip below multiple supports alongside an official confirmation of a recession, it could create the perfect recipe for a real crypto winter (it’s unlikely but you never know until you’re in one (recession)). My phone is getting laggy after writing this, so I hope my shitty opinion meets everyone kindly. I hope I’m wrong.
The future awaits regardless of price action now, but I wish everyone well.
Tldr: Purely speculative that we enter a crypto winter, of sorts this year.
PS: This is the second time in my 7 years of being crypto that I’m genuinely bearish for short and mid term market actions. Still bullish at the end zone though!
