Figured I might as well stake my speculative trading claims here so I can link back to this thread when it happens:
I think this is a tiny dip before the huge rally.
With people's stimulus checks coming in early next month and tax returns hitting people's banks here shortly, they're going to go on an investment craze buying all non-fiat stuff possible (because consumerism).
Personally, I think a lot of people had to cash out their 'investments' (GME, Doge, whatever hype they bought into) to pay the monthly bills causing the market drop we're seeing today. A lot of these 'investors' are panic buying/panic selling to get rich fast. In the end, these people tend to buy high, sell low, losing money as a whole.
To me, it seems as though bitcoin will rise to 150k and then eventually drop back down to 40-50k. So, now would be a great time to buy while it's at probably one of the lowest points it'll be at in the next decade.
Overall, my recommendation is buy and hodl until at least 100k if you're looking to make a 100% ROI over the next year or two. If you want until $140-150k to sell, you'll have a 300% ROI, but requires checking prices more consistently to ensure you manage to sell before the fall of value (at least once a week, maybe twice or three times a week once the price is around 120k).
