Price is showing signs of Quasimodo pattern. I anticipate price to tap into the FGV before we start seeing the plummet happen. I estimate in the next 2-3yrs will be enough for it to find balance in the market before we start seeing it go back again.
My guess is, when this happens (before it starts going back up again), the supply will be exhausted and there will be no more bitcoin left in the market, which can cause a form of short squeeze. Making it reach an ATH rather quicker than the past time it happened. But this is purely speculative. In terms of market direction, I have a firm belief it might actually go to below $10k.
Ok. Let’s use market patterns here. In Elliot wave principle. Market corrects in ABC (or ABCD) pattern. If you measure the distance from the yellow arrow, it almost corresponds the initial move which fueled the move for bitcoin to go below $20k. What we will see is a similar move down.
The first move was AB wave, the move up to where we are speculating is BC move. We are now waiting for the final wave C to be complete. This will be fueled by an unforeseen fundamental news which will fuel the fear in the market causing it to start going down.
My guess is, when this happens (before it starts going back up again), the supply will be exhausted and there will be no more bitcoin left in the market, which can cause a form of short squeeze. Making it reach an ATH rather quicker than the past time it happened. But this is purely speculative. In terms of market direction, I have a firm belief it might actually go to below $10k.
Ok. Let’s use market patterns here. In Elliot wave principle. Market corrects in ABC (or ABCD) pattern. If you measure the distance from the yellow arrow, it almost corresponds the initial move which fueled the move for bitcoin to go below $20k. What we will see is a similar move down.
The first move was AB wave, the move up to where we are speculating is BC move. We are now waiting for the final wave C to be complete. This will be fueled by an unforeseen fundamental news which will fuel the fear in the market causing it to start going down.