BTCUSD Worst Case We can take COVID Low
Nobody seems to think that BTC could ever come back below 4k. This is despite many tech stocks already having taken out their COVID lows.
We've had 3 massive waves up now, with ever-increasing media frenzy at the top of each one.
Who would even be left to buy on a 4th wave?
A true flush and reset therefore makes some sense.
Add to that the macro environment - BTC has never existed during tightening. All it's ever known is cheap money, fast money, the kind of money that burns a hole in your pocket and forces you way down the risk curve to seek return. Well it looks like that era is over, at least temporarily.
We've had 3 massive waves up now, with ever-increasing media frenzy at the top of each one.
Who would even be left to buy on a 4th wave?
A true flush and reset therefore makes some sense.
Add to that the macro environment - BTC has never existed during tightening. All it's ever known is cheap money, fast money, the kind of money that burns a hole in your pocket and forces you way down the risk curve to seek return. Well it looks like that era is over, at least temporarily.
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