Some days back, I predicted that BTC might end up correcting from the initial price it was, some days ago to around 38k to 40k range, and currently, it's just about 41k plus, and I still feel it might get to 40k to close the year. These corrections are expected, the parabolic run from 35k was quick and galloped quite unexpectedly, howbeit, without the alts experiencing a corresponding rise with it.
However, we saw the alts plummeting in price too, despite not experiencing that corresponding pump as well. It's what it is, isn't it? The alts are mostly that way and tend to have a definite time when they do their own run. It's good to be seeing these corrections these periods, I don't know if it'll happen in January too, but I feel that January might actually be better.
The reason is that January heralds the beginning of 2024, and we all know 2024 is a pre-bull year, or maybe something more than that, and it must just begin with some pumping. However, a lot of people still don't believe that 2024 will be a good year for BTC and crypto, especially if the spot ETFs don't happen. Well, I won't exactly disagree with this.
I believe the ETF saga is extremely tricky by all means. This is because we really do not know where the SEC stands in all these. We currently don't know their position, but eventually, I feel that they can only stall, and do nothing too drastic. Of course, the halving. It's good the halving will be happening, and while it might not really be significant, it's still going to be exciting to see how the market decides to react to it.
So irrespective of the outlook, 2023 is going to end well for BTC, and not so much for alts. For Hive, again, I can't exactly say. In the previous Market, the run was parabolic, quick, and acute, and not many people expected it to happen that way. So I don't exactly know how Hive's run will be simply because there are so many things that are predicted to be a bit dicey.
What most people can exactly do is predict what they think the cost of hive will be when the market peaks, but they might not be able to predict patterns and all that. This is to say that 60% of people are only particular about the price peak, simply by looking at the price of the last bull market and how it happened.
However, looking at that pattern is also worth it, as this might influence your behavior or actions. I haven't taken a lot at the market for a while, it's been a challenging road for me, but I'll keep looking at the price action of BTC, but I'm certain it'll not close below 38k.
Interested in some more of my works
