This is a look into the bitcoin long term outlook. Looking at Elliot's Wave Theory. BTC is currently in a bear market and will take a while to move back into a bull cycle. The sell off we witnessed from the high's was a significant push to the downside. We don't jus automatically move into a bull market after this sell off. Unless you have the help of the Federal Reserve where they can pump money into the economy. BTC is all about supply and demand. It will take time for the demand to build back up after a sell off, ideally at much lower prices where we can accumulate. This is a 3-5 year outlook so let's see how this works out.
Comment:
The down cycle is not necessarily accurate but the area shown in green is an idea where we would look to be buying BTC.