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Bitcoin Long Term Forecast. October 8, 2022
Hi all
A lot of people think this is the fourth bear market of Bitcoin. In reality, it is the first. The price has been below 200 MA for about three months now, and it hasn't done this before. It's a sign of a bear market. Previous down moves have only been short-lived corrections in a larger bull cycle. And this is the real bear market, that corrects the entire previous bull cycle.
I don't know how long it will last, or how low the price will go. But I won't be surprised if the price goes below $2000.
For the next five years, we cannot expect a bull market for bitcoin.
A lot of people think this is the fourth bear market of Bitcoin. In reality, it is the first. The price has been below 200 MA for about three months now, and it hasn't done this before. It's a sign of a bear market. Previous down moves have only been short-lived corrections in a larger bull cycle. And this is the real bear market, that corrects the entire previous bull cycle.
I don't know how long it will last, or how low the price will go. But I won't be surprised if the price goes below $2000.
For the next five years, we cannot expect a bull market for bitcoin.
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