Since the bear market began, I've never been a believer or of the opinion that the market would crash to a level where Bitcoin would trade at $10k. I currently still have quite alot of colleagues talk about how the market still hasn't reached its bottom and how the market would crash pretty hard to a point where Bitcoin would get to $10k probably in the coming months.
While the thought of Bitcoin crashing to $10k is pretty scary and catastrophic to the market, it is undeniably a possibility. This is crypto and shit happens.
Bitcoin dropping to $10k is chaotic and a tiny part of me wants to see how people would react to that knowing fully well that the market always recovers. We'd be seeing more chaos like the continuous drop in floor price NFTs, crypto market cap crashing to around $400Billion from the all time high of $1.6Trillion which of course results in a general crash in price of cryptocurrencies , quite alot of shitcoins trying to recover from the currnt crash would probably crash to oblivion and lose value completely, and there'll probably be collapse of one or two more stable coins. Lest I forget, we'd be having quite alot of people run away from the space(especially those who had invested in cryptos in the bull market) and of course more people calling crypto a Scam.
However, if at all the market crashed to this level, I believe it would quickly recover from that as so many people would hop on that opportunity to buy more cryptos at extremely cheap rates in preparation for the next bull run which is believed to be the craziest bull market ever seen. I honestly still don't think we'd have Bitcoin get to $10k. I was of the opinion however that the market may crash more to a level where BTC will trade somewhere around $15k if at all there bear market continues but that's it, no lower than $15k.
Well, back to reality, the market seems to be adjusting from the July- August rally and Bitcoin trades at $21k. Everyone seems calm, no much chaos and we're all very positive. I'll just hope Bitcoin at $10k doesn't become a reality but stays as a post like this.
I do not think that we have seen the bottom yet. I am still out of market and waiting for a good chance to enter again. I hope I wont miss this train!!😅
Lets hope you don't miss this train my friend. I used the DCA strategy however. Even if it crashes more, i'll be buying.
I think this is our last chance to accumulate as many crypto as we can for cheap prices. I want to buy as many pieces as I can so I am waiting for the right time.
Last two bull markets gave me very good profit because I was accumulating coins during the bear market. If you think that at the last bear market btc went to 3k I believe this time will fall to 11-13k. I have a buy order at 14k and 0.30 for hive. I hope it will work well. 😅