Crypto markets are down across the board. It’s been down and sideways now since early November of last year. Will the war, the Federal Reserve, or the regulators finish crypto? Or is crypto made for this financial environment, and will the world finally realise Bitcoin’s safe haven properties?
Bitcoin has seen 4 up and down trends since the Covid-induced crash of March 2020. The massive upward trend that followed 13 March lasted more than a year, terminating with a high of nearly $65k on 14 April 2021.
The downturn then took the price to a low of $28,900, which it then revisited in mid-July, before taking off again, eclipsing the previous high, and making a new all-time high of nearly $69k on the 10 November last year.
In the current downtrend, a potential bottom of 33k has been made, and Bitcoin is now travelling sideways, either to make one more lower low, or to gain strength in this accumulation phase, preparing to head higher and make a new all-time-high.
The question might be asked “Does price even matter?” and honestly, it really doesn’t, unless it’s for the bottom rung of poor investors who are really struggling to hang on. After all, it might be argued that these are the kind of people that Satoshi had in mind when he set the Bitcoin network in motion.
Satoshi might not have realised the power of the mainstream media when he mined the first bitcoin. He may well not have taken into account the power of the media, backed by the banks and governments, to dissuade the common man from investing in the only thing that is likely to save him in these perilously dangerous financial times.
The mainstream media is constantly provided with fuel from those who have vested interests in the continuance of the debt-based ponzi monetary system. Fuel in the form of misinformation, or just downright ignorant slandering of what Bitcoin really does, is propagated by those who really ought to know better.
As the current fiat monetary system continues to inflict severe inflation on the people, there is really nowhere for Bitcoin to go, but up, in the long term.
There are still many intelligent investors out there who have been led down a certain path by the media, making them believe that Bitcoin is a scam, money-laundering scheme, finance for terrorists etc.
But what is going on with the fiat system has to become clear to all eventually, and then with nowhere to turn but into precious metals, or Bitcoin, then it is obvious that cryptocurrencies will explode upwards.
They can be banned or heavily regulated, but at the end of the day, as long as the investor has their own wallet and private keys, then that wealth can grow, completely out of the reach of governments, banks and regulators. The explosion is coming, and it may be soon.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
