Sinking lower
- Bitcoin is below its daily and weekly moving averages
- Bitcoin needs a significant event to gain new momentum
- Possible price drop to major support levels at $24,000, $21,000, $19,000, and even back to the lows
- The cycle of the bitcoin bull market is lengthening
- Bitcoin’s potential best-case scenario is a 6x increase from the current price
Momentum can be regained
- The upcoming decision on a bitcoin spot ETF by the SEC
- Possibility of a delay in the SEC’s decision
- Grayscale vs SEC case could impact the approval of a spot ETF
Long-term gains and alternative to the monetary system
- Lower prices allow for more buying opportunities
- Bitcoin provides an alternative to the unfair and corrupt monetary system
- Mainstream media misdirection should be ignored
Hot Take: Bitcoin’s price is sinking lower and it needs a significant event to regain momentum. The cycle of the bitcoin bull market is lengthening, and potential gains may be limited. However, the decision on a bitcoin spot ETF by the SEC could change the trajectory. Despite price drops, bitcoin remains a long-term investment and an alternative to the current monetary system. It is important to stay informed and not be swayed by mainstream media misdirection.
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