Bitcoin & Crypto market Outlook
The last few months and since June when Bitcoin has made its local bottom, its price has been moving in the sideway direction within the range between 18k and 22K.
It feels like after dropping 75% below its All Time High value the volatility has exhausted itself. Hence why, Bitcoin has no more fuel (at least for now) to push its price to significantly higher levels in the currrent market environment.
Without a doubt Bitcoin is in the bear market phase being hugely affected by pessimistic market sentiment that is spreading fear amongst retail investors like us.
Negative marcoeconomic factors ie raising inflation, interest rates, geopolitical events etc along with Terra Luna and FTX exchage collapses has played a major role for bringing Bitcoin and crypto markets down.
From June and for the last 159 days (which is almost 5 months) Bitcoin price has been fluctuating in the narrow sideway range with the most recent drop from 19K to $16-17k.
As there is a lot of FUD and fear in the markets it feels that Bitcoin is approaching its Capitulation phase.
What does it mean?
Should there be another negative catalyst related to the crypto markets or macro events soon, Bitcoin may well drop by another 50% from its current price levels of 16K-17K.
Histocially, this is how Bitcoin capitulates and finds its bear market bottom.
Normally, the bottom lasts for 4-6 month before the market sentiment changes to positive and market reversal begins.
If we are to work with the time frames then Capitulation can happen any time between now and Feb-2023 with the bottom lasting for another 4-5 months and until the next year May or June 2023.
Off course, we are working with the probabilities and there is no certainty.
How about Ethereum?
I am going straight to the point as it has been going exactly through the same narrative as daddy Bitcoin. Hence why, its been following exactly the same pattern.
The current price of Ethereum is floating around $1,200 which is also 75% below its All Time High value. It is expected that Ethereum will also capitulate at some point due to a lot of FUD in the current market.
Recently, its creator Vitalik Buterin has sold over 3,000 ETH with other institutional investors including hedge funds and asset managers are going through the liquidity crunch and insolvency. They are expected to dump their holdings into the market.
The recent collapse of FTX exchange and hack of over $600 mln worth of ETH from FTX by insider has added more fear that hacker will also be selling ETH in the near future.
To add, Grayscale asset management is preparing to liquidate their BTC & ETH holdings worth $15 bln in total if things get even worse.
As you can see, the market could be flooded with a lot of BTC & ETH assets that may bring the prices significantly lower and causes the crypto market capitulation.
What to expect for ETH?
It will follow the Bitcoin trajectory in terms of timing and bottoming out.
With regards of price levels, we could see another drop in price to lower levels and up to 90% below its ATH value same as the last bear market. Saying that, we could see Etehreum at $800 per coin or even lower and around $570-$600.
Looking at the chart’s strongest support level where most of buy orders are waiting to be filled, I am expecting Ethereum bottom at around $370-$420.
Again, its hard to predict the correct bottom at this point of time and as it always has been.Therefore, keep accumulating with DCA and have some lump sum waiting aside in case ETH finds its bottom at $400.
I am still following the DCA buy strategies and hope that there are still some brave people out there who save $5 on a daily coffee and put this money into Bitcoin or Ethereum.
The next levels for Bitcoin capitulation could be
14K, 11K, 9.6K.
The hardest job is to predict the exact bottom and ono one including myself can do it.
All I am sure for now that Bitcoin finding its bottom very soon and this is the greatest opportunity to accumulate your generational wealth that, trust me, will change you life in Dec2025.
Such a perfect timing to continue with DCA strategies. I hope that none of you have given up and still keep accumulating Bitcoin and Etehreum.
Do not give up!
Work hard and be patient!
And you will be rewarded!
It feels like after dropping 75% below its All Time High value the volatility has exhausted itself. Hence why, Bitcoin has no more fuel (at least for now) to push its price to significantly higher levels in the currrent market environment.
Without a doubt Bitcoin is in the bear market phase being hugely affected by pessimistic market sentiment that is spreading fear amongst retail investors like us.
Negative marcoeconomic factors ie raising inflation, interest rates, geopolitical events etc along with Terra Luna and FTX exchage collapses has played a major role for bringing Bitcoin and crypto markets down.
From June and for the last 159 days (which is almost 5 months) Bitcoin price has been fluctuating in the narrow sideway range with the most recent drop from 19K to $16-17k.
As there is a lot of FUD and fear in the markets it feels that Bitcoin is approaching its Capitulation phase.
What does it mean?
Should there be another negative catalyst related to the crypto markets or macro events soon, Bitcoin may well drop by another 50% from its current price levels of 16K-17K.
Histocially, this is how Bitcoin capitulates and finds its bear market bottom.
Normally, the bottom lasts for 4-6 month before the market sentiment changes to positive and market reversal begins.
If we are to work with the time frames then Capitulation can happen any time between now and Feb-2023 with the bottom lasting for another 4-5 months and until the next year May or June 2023.
Off course, we are working with the probabilities and there is no certainty.
How about Ethereum?
I am going straight to the point as it has been going exactly through the same narrative as daddy Bitcoin. Hence why, its been following exactly the same pattern.
The current price of Ethereum is floating around $1,200 which is also 75% below its All Time High value. It is expected that Ethereum will also capitulate at some point due to a lot of FUD in the current market.
Recently, its creator Vitalik Buterin has sold over 3,000 ETH with other institutional investors including hedge funds and asset managers are going through the liquidity crunch and insolvency. They are expected to dump their holdings into the market.
The recent collapse of FTX exchange and hack of over $600 mln worth of ETH from FTX by insider has added more fear that hacker will also be selling ETH in the near future.
To add, Grayscale asset management is preparing to liquidate their BTC & ETH holdings worth $15 bln in total if things get even worse.
As you can see, the market could be flooded with a lot of BTC & ETH assets that may bring the prices significantly lower and causes the crypto market capitulation.
What to expect for ETH?
It will follow the Bitcoin trajectory in terms of timing and bottoming out.
With regards of price levels, we could see another drop in price to lower levels and up to 90% below its ATH value same as the last bear market. Saying that, we could see Etehreum at $800 per coin or even lower and around $570-$600.
Looking at the chart’s strongest support level where most of buy orders are waiting to be filled, I am expecting Ethereum bottom at around $370-$420.
Again, its hard to predict the correct bottom at this point of time and as it always has been.Therefore, keep accumulating with DCA and have some lump sum waiting aside in case ETH finds its bottom at $400.
I am still following the DCA buy strategies and hope that there are still some brave people out there who save $5 on a daily coffee and put this money into Bitcoin or Ethereum.
The next levels for Bitcoin capitulation could be
14K, 11K, 9.6K.The hardest job is to predict the exact bottom and ono one including myself can do it.
All I am sure for now that Bitcoin finding its bottom very soon and this is the greatest opportunity to accumulate your generational wealth that, trust me, will change you life in Dec2025.
Such a perfect timing to continue with DCA strategies. I hope that none of you have given up and still keep accumulating Bitcoin and Etehreum.
Do not give up!
Work hard and be patient!
And you will be rewarded!
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