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cryptocurrency and me

Started by Albalaha, November 05, 2021, 09:47:29 AM

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Albalaha

It is already over $30k. Those who were skeptic of its growth have missed almost 90% growth when it was at $16,600 levels at 31st December 2022. It was near $20k in June 2022. Even from there, it is 50% up. This year we will see $50k levels for sure and a single fortnight can be sufficient to pull this much price. If it doesn't reach a new all time high by 2024, its bubble will bust forever.
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KungFuBac

Hi albalaha

Hope you're doing well.

re: "...Those who were skeptic of its growth have missed almost 90% growth when it was at $16,600 levels at 31st December 2022. It was near $20k in Ju.."


That would be me. I bought a small nonmeaningful amount of crypto (including Bitcoin) when Bitcoin had dropped from $60K+ down to the 20K level. IMO and based on my research/statistical analysis I projected Bitcoin would have difficulty getting past the 27K--28 range and actually thought it would stall there, retreat, then go higher than 28K in latter 2023 or 24.

I still think it is being artificially manipulated by a few large investors and we will see a pullback (much sooner than many think), mostly due to these larger investors. Not because its true value is fluctuating.
IMO these larger investors find it easier to make larger returns/quicker returns when its dropping or bouncing in a narrow range they have predetermined(See the large transactions when bouncing @ 16.5k--18k).

So my thinking is after several bounces cycles only then will we see it powering higher. I still do not like the valuation metrics for Bitcoin or any crypto. However, that doesn't mean it can't or won't go higher--or--that I may simply be wrong.
My next buy will be when it regresses to the 14K levels.


Alb, I hope you are correct/ good luck with it.


Continued Success,
"There are many large numbers smaller than one."