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jimbocoin 🃏

#Bitcoin price prediction: crab sideways until next Spring.

Rationale:

1. Bitcoin competes for attention in memespace. People’s surplus attention will be wrapped up in politics.

2. Inflation is hurting people’s pocket books. They don’t have surplus money to spend.

3. The Fed pump won’t get going immediately. It’ll take time for lowered rates to prompt reallocations.

4. Recent buyers and traders will be dumping before New Years to lock in their capital losses for 2024.

What am I missing?

Tinsley 1y ago

You’re off Jimbo

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Discussion

jimbocoin 🃏 1y ago

How so?

Tinsley 1y ago

1-3-4 could all have applied to the last bull too. We started pumping right around the 2020 election

Institutional buyers are in play now with the etf so 2 has much less of an affect on price

jimbocoin 🃏 1y ago

Yeah, I guess retail might not have the same impact

Tinsley 1y ago

With all that being said… who tf knows lol

jimbocoin 🃏 1y ago

Right right. This cycle has already been strange. 2021 got cut short. Everyone thought $100k was a given—then China banned mining (again) and FTX imploded. Then 2024 matched ATH a year ahead of schedule.

So yeah, hard to make predictions. Nonetheless, my gut says there are too many headwinds to significantly break the old ATH top, until the election is behind us and the Fed lets off the brakes.

I’m not wedded to this position. Happy to update as new info becomes available.