The reason I think Bitcoin may drop to $3000 or below is because it double topped and because it fell out of an upward channel that it had been in since 2011, these are both strong bearish signs.
Bitcoin had a very nice run, but nothing goes up forever. This may be a wakeup call for a lot of Bitcoin Maxi's and anyone in the cryptosphere. This day of rektconing would most likely be the much needed purge the crypto space has needed. Anything of value will survive, but everything else would mostly die off and regulation may step in as well to ensure this.
If this happens ETH may do well and take the alt coins with it, but BTC could also bring down ETH with it, or the flippening may occur, I'm not really sure.
I think the Terra Luna, Celsius, and FTX crash is the writing on the wall. Strap in and prepare yourself, this time the rockets not going to the moon, but re-entering the stratosphere.
Bitcoin had a very nice run, but nothing goes up forever. This may be a wakeup call for a lot of Bitcoin Maxi's and anyone in the cryptosphere. This day of rektconing would most likely be the much needed purge the crypto space has needed. Anything of value will survive, but everything else would mostly die off and regulation may step in as well to ensure this.
If this happens ETH may do well and take the alt coins with it, but BTC could also bring down ETH with it, or the flippening may occur, I'm not really sure.
I think the Terra Luna, Celsius, and FTX crash is the writing on the wall. Strap in and prepare yourself, this time the rockets not going to the moon, but re-entering the stratosphere.
Comment:
Bitcoin is now showing very bullish signs. A nice reversal pattern, so lets hope for the best.