You don't need to be an expert crypto or stocks chart reader to know that the markets never move in a straight line. One minute, everyone could be convinced that Bitcoin is doomed and the next, we see it bull running to another all time high.
It's been years of seeing this up and down trend of crypto, and that's long enough for me to understand the behavior of Bitcoin. Regardless of how messed up it looks, don't think that's the end.
Bitcoin always comes back, but dipping is such a B word. Lol, this reminds me of a scene in one of my favorite horror movies, Chucky.
Chucky the killer doll, said "I'll be back, I always come back but dieing is such a bitch"
Enjoy the short scene guys
We understand this as the nature of Bitcoin but right now everything looks so confusing, so much that most of the experts can’t even agree on whether the worst is behind us or yet to come.
There are people that actually think that Bitcoin has finally bottomed, but some believe perhaps there's more dipping ahead and they're even preparing for that moment.
Years of Bitcoin behavior has taught me never to buy into certainty so I can't fully stand behind either of these claims or predictions.
The crypto market thrives on unpredictability and Donald Trump's Tarrif decision is a perfect example. Who would have thought this would be the state of the world and market today?
Every time Trump opens his mouth, something shifts, the man is almost literally controlling the world's price action.
He starts talking about flexibility and crypto booming, right there you see green candles. Then he starts firing threats of new tariffs, and green turns into red candles.
I mentioned this in a blog I made a few days ago. Perhaps crypto investors that are friends of Donald Trump might be influencing him in the background to make these decisions so they can determine the direction of the market to enable them take full advantage of profits. But maybe that's far fetched, or is it?
Crypto investors are left scrambling, trying to make sense of it all.
Here's a question for you. If the biggest holders stop selling, does that mean the bottom is in?
Well I think, maybe, but my confidence in the concept is very fragile now. The reason I think this way is that now, way too many variables are involved in influencing the price of Bitcoin.
Years ago we had no Feds, no government, no big money companies like BlackRock and no Country reserves. At that time it was still unpredictable but not as unpredictable as it has become today.
A single unexpected move from the Fed, a sudden regulatory mess up and things could turn ugly very quickly.
But despite that, I do see signs of strength and hope for Bitcoin.
Crypto investment products are seeing inflows again and that usually doesn’t happen if investors are expecting a collapse of the price. And when people start talking about peak negative sentiment, I pay attention because it's a price trigger a lot of the times.
We understand that markets move in cycles. If everyone’s already expecting the worst, then what’s left to fear right?
Regardless it doesn't mean I'm still certain. Bitcoin might hit $110,000 and other new all time highs or it might just tumble back down. No one really knows, well except for the big players behind the scene that could be influencing price action. I may be wrong on that though.
The moment you think you know, the market just humbles you and if you were saying it confidently to people that the market will move in a certain way, the market doesn't humble you, it humiliates you.