BTCUSD
This isn't really a prediction, but just looking at all the times $BTC touched the 200 day moving average in the last 5 years, and adding a little summary of what happened during those valleys. Both times it hit the 200MA, it eventually bounced off of it. The first was during the Trade War with China. The second was during the Covid-19 pandemic scare.
When I think about the US Economy today, there are some slight differences, but nothing that strikes me as particularly catastrophic for crypto.
Here's some somewhat bullish developments depending on how you read the news:
1. Interest rates are up, but only by ~2%. Not enuf to cripple the economy and in fact, might proactively reel in some overly speculative assets. BTC and ETH seem to be sound money in 2022 though, and money will flow into these assets from riskier ones.
2. During high inflation times, people will move to scarce supply assets like BTC, Housing, Gold, etc.
3. BTC halving will occur in two years, so people will stock up now while price is cheaper.
4. Housing is expensive. People may opt to buy stocks and crypto instead of housing since it's liquid and easier to buy, hold, and sell
5. Regulation of crypto seems to be making progress more every year
Anyway, I can't predict the future, but my recommendation is to have a long timeline in mind and keep a diversified portfolio. Crypto is still a new and developing technology and while I am bullish, I am also pragmatic about my investments and how much I can trust my own judgment ;)
Comment:
That 30 day moving avg looks ready to dump super hard tho lol. Possible we go below for longer than in the past, hence, have a long timeline in mind.
