Total market cap for all crypto is now just 100 Billion Dollars and is soon to be in the 90's. For those that hold most shitcoins, it is capitulation as they realize that their tokens have no value. Litecoin is the only crypto to rise in value today, and Bcash and BSV are the 2 biggest loss makers for today as well.
Some people are asking if Bitcoin will hold any value in the coming weeks, will it fall below $1500? The value is it is now is likely not the bottom, it is still falling, and will likely fall below $3000.
For me though I have no doubt that we are approaching the bottom of this bear market, and I am buying more Bitcoin next week on Tuesday or Wednesday at the best price I can get. I reckon the current fall is likely the last fall before BTC turns around and starts climbing in value. Of course no one can tell when the bottom will be exactly, we are currently around the 85% fall for this year, and I expect the bottom will be reached in this year.
The recent market manipulation to force prices lower, has done the job of forcing out weak hands, and allowed institutions to buy in at the pricing they wanted. No matter if prices continue to fall, I will just dollar price average and buy more each week in the coming weeks, even if it start to climb again I will keep buying at these very cheap prices.
This period of super low prices, are a gift to those of us who are strong in our belief in BTC, we just buy more and average out our portfolios at a lower price.
I expect BTC to stay above $2700 USD and not fall below, of course it could, but then it is just a better price to buy in and buy more.
Do not borrow to purchase, just buy what you can afford to lose, the smart ones will be holding enough to become wealthy when the price hits above $75000 in the next 2 years.
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