Bitcoin Down to 3666?Bitcoin’s Bull Run: A Potential Correction Ahead
Bitcoin has seen a remarkable bull run, but a correction to $3,666 may be imminent. Historical patterns show Bitcoin often retraces 70-90% after peaks (e.g., 2017-2018 and 2021-2022). Current overbought indicators, like RSI levels above 70, and declining buyer activity suggest cooling momentum. Affordability is also a concern, with high prices limiting participation by retail investors.
Could Bitcoin Become the US Official Currency?
With global trends like El Salvador adopting Bitcoin as legal tender, it's plausible the US could consider similar moves under specific leadership. Bitcoin's capped supply and decentralization align with economic policies that challenge traditional banking and inflationary pressures.
Why Market Inclusivity Matters
Most of Bitcoin’s wealth remains concentrated among early adopters and whales, mirroring the inequality seen in stock markets. Broader adoption by the general population is essential for Bitcoin’s long-term legitimacy and sustained bull runs.
Be Prepared for Market Turbulence
On-chain divergences (e.g., lower transaction volumes) and macroeconomic tightening hint at potential turbulence. Bitcoin corrections tend to be swift, often concluding within 1-2 years, as seen in past cycles. Observing these trends is vital for navigating the market ahead.
A Word of Caution
Average investors should be wary of opportunistic individuals or schemes promoting Bitcoin as a "guaranteed" investment at current levels. The market’s volatility could leave latecomers holding the bag during a downturn. Always conduct thorough research before investing.