Correction is coming but when is the question. A correction at these levels would bring us back to 20-21K which is very reasonable
The caliber of institutional investors entering the space will keep the value steady above 20k as I do not believe the markets will be as generous to give us BTC under 20k again. Once people like Michael Salor enter the space and buy millions upon millions of Bitcoin not to mention Grey Scale, Stanley Druckenmiller, JP Morgan now endorsing bitcoin, Black Rock, Mass Mutual, The list is long and these are people that have been successful investors for many many years. The change of tune comes while Bitcoin hits All Time High's over and over again. Above 20K. Although this is not a FOMO rally like 2017. This time is different as the value of bitcoin has finally hit the main stream and cannot be ignored. There is a shit of power and wealth happening right before your eyes. More wealth will be digitized in the coming years than ever before. Providing a bearish view of where the price could head in the short term is fundamentally essential but we all know where the price of Bitcoin is headed in the long term. As Bitcoin tests the 30K level keep your eye on it in case a bearish scenario plays out. It could be we pass right through this price level and correct at a higher point possibly 40-50k. If this happens I do expect Bitcoin to consolidate around 25-30k for some time then resume an upward trajectory to completely shatter everyones expectations. Good luck everyone Manage Risk and Trade Accordingly
The caliber of institutional investors entering the space will keep the value steady above 20k as I do not believe the markets will be as generous to give us BTC under 20k again. Once people like Michael Salor enter the space and buy millions upon millions of Bitcoin not to mention Grey Scale, Stanley Druckenmiller, JP Morgan now endorsing bitcoin, Black Rock, Mass Mutual, The list is long and these are people that have been successful investors for many many years. The change of tune comes while Bitcoin hits All Time High's over and over again. Above 20K. Although this is not a FOMO rally like 2017. This time is different as the value of bitcoin has finally hit the main stream and cannot be ignored. There is a shit of power and wealth happening right before your eyes. More wealth will be digitized in the coming years than ever before. Providing a bearish view of where the price could head in the short term is fundamentally essential but we all know where the price of Bitcoin is headed in the long term. As Bitcoin tests the 30K level keep your eye on it in case a bearish scenario plays out. It could be we pass right through this price level and correct at a higher point possibly 40-50k. If this happens I do expect Bitcoin to consolidate around 25-30k for some time then resume an upward trajectory to completely shatter everyones expectations. Good luck everyone Manage Risk and Trade Accordingly