Topic: Bitcoin’s metrics suggest bull market is far from overvalued (Read 49 times)
It is true that there are no trends for the Bitcoin price to rise currently, but there is no real trend for a price correction, meaning that we still have resistance levels at 91, 89, 84 until we reach the $70,000 levels, and therefore we may stabilize at this price for the coming days until the end of December and the beginning of January, where we may see levels of $100,000 or higher.
In 2017, there was a correction from $7.4K to $5.9K, it's around 20%.
In 2021, there was a correction from $38K to $32K, it's around 15%.
I don't think we will go back to $70K in this and next year, Bitcoin bull season isn't just hype for few months and then back to the initial price. I'm sure Bitcoin will be steady at least in $90K.
In 2021, there was a correction from $38K to $32K, it's around 15%.
I don't think we will go back to $70K in this and next year, Bitcoin bull season isn't just hype for few months and then back to the initial price. I'm sure Bitcoin will be steady at least in $90K.
There is nothing wrong with calling for a correction but a -30% correction isn’t. Something that easily happens in the bitcoin market, it takes months and some heavy fuds around the market like economic downturn before it happens at a go. Bitcoin moved over 45% in the last 30 days which was an amazing pump and correction on this is not far but as heavy as $70k fall I doubt the fall will happen with this current pump momentum.
The year before the fourth year of the cycle is always the most bullish
So expect the fact that the increase this year would be nothing
When compared to next year
Historically speaking.
This news are usually common during Bull market
I just try to neglect them and see what OG's at WO are saying about it's price and direction
I prefer listening to words of those knowledgeable than individuals that may likely be a Nocoiner.
I'm Bullish 2025.
So expect the fact that the increase this year would be nothing
When compared to next year
Historically speaking.
This news are usually common during Bull market
I just try to neglect them and see what OG's at WO are saying about it's price and direction
I prefer listening to words of those knowledgeable than individuals that may likely be a Nocoiner.
I'm Bullish 2025.
Fuck, you're really on fire with these threads, eh?
As I said before, the thread that said that the price could fall by 30% was ignored. In this case it does sound more plausible to me because of all the institutional demand that is going to enter in 2025. The legal problem no longer exists, bitcoin is legal in most countries in the world and now the question is which are going to be the last ones (and therefore the morons) to accumulate bitcoin. Therefore I believe that on this basis 2025 looks very bullish and in this case I agree that the bull market is not overvalued.
As I said before, the thread that said that the price could fall by 30% was ignored. In this case it does sound more plausible to me because of all the institutional demand that is going to enter in 2025. The legal problem no longer exists, bitcoin is legal in most countries in the world and now the question is which are going to be the last ones (and therefore the morons) to accumulate bitcoin. Therefore I believe that on this basis 2025 looks very bullish and in this case I agree that the bull market is not overvalued.
When bitcoin went below $91000, some analysts said that bitcoin can fall 30%. Which means its price can call below $70000. The bulls showed them to be wrong for now and some analysts are saying the bull run is far from over. But I think this would be correct in long term perspective.
You can continue reading the news here: https://cointelegraph.com/news/bitcoin-metrics-suggests-bull-market-far-from-overvalued
I also think this is possible.
Bitcoin’s valuation metrics suggest the bull market is far from over and could be setting the stage for even further highs. With no signs of overvaluation typically seen at price peaks, analysts are eyeing a current potential target of $146,000 in this cycle.
You can continue reading the news here: https://cointelegraph.com/news/bitcoin-metrics-suggests-bull-market-far-from-overvalued
I also think this is possible.
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