Xrpdude Posted June 22, 2021 Share Posted June 22, 2021 Just now, Ramforinkas said: I'm in the, BTC won't hit anywhere near 400k this cycle boat, but crypto loves to overextend in both directions due to emotions, and I wouldn't be shocked to see that sort of PT achieved. Crypto markets are extremely volatile. Just because you sold 6 weeks ago, doesn't mean you'll be right in another 6 weeks, although perhaps you will be. The market is RIPE right now for some kind of massive relief rally. Extreme fear, FUD, nearly everyone is bearish at this point, no bounce after the ~40 - ~50 percent price decreases, accelerated sell off... this market doesn't typically do what everyone is expecting it to do. Regardless, this recent price movement is new territory for the most part, we don't know what'll happen in the coming weeks. It's not like we did an ABC correction after the fall. I absolutely agree we'll see a relief rally, the classic "return to normal" and I wouldn't be too surprised to see BTC to briefly touch circa $32-35k again briefly (maybe a few days). But ultimately we're in a crypto winter. Interesting thing is when it comes to human psychology, often the smoke isn't enough to prompt us to leave the building we have to see the flames. I jumped when I saw the smoke, but the flames are there now. BTC going sub 30k is a wake up call for many - it was obvious to me and now I'd say I'm even more convinced. But...yep, let's see if I'm right (I have been up to now, and without a single line on a chart)! Link to comment Share on other sites More sharing options...
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