When is the time to be greedy when others are fearful?
Not yet, it would seem.
When should you invest in Bitcoin and other cryptocurrencies?
Well, I don’t have a crystal ball, but I know a lot of you guys don’t have the time to follow well-respected traders and investors in the crypto industry. Fortunately, I love researching this stuff. Not only for me, but I don’t mind sharing my thoughts with you. Still, you need to spend time researching yourself if you want to try and pick a bottom to enter the market.
At the time of writing this article, Bitcoin is sitting between $20,000 and $22,000 USD.
Anyway, based on other people’s research, here’s why I’m currently waiting until Bitcoin drops to between $12,000 and $16,000 before looking to invest in anything.
—— Theory 1:
If you take a look at the weekly moving averages;
Cycle 1 held support at 100 week moving average.
Cycle 2 held support at 200 week moving average.
Cycle 3 held support at 300 week moving average.
Cycle 4 – maybe it will hold support at 400 week moving average?
—— Theory 2:
In each cycle, the RVTS has marked a bottom on its second peak in the past decade (see 2 and 4) and 6 hasn’t happened yet.
—— Theory 3:
Looking at the Logarithmic Regression Rainbow over the past decade, we seem to “drop down” a regression band every cycle.
—— Theory 4:
Diminishing Losses over the past decade show the price drops to between 84% and 93% before the bottom is in. That hasn’t happened yet this cycle.
—— Theory 5:
The repercussions of Silicon Valley Bank going bankrupt and the USDC stablecoin “depegging” (March 11, 2023) will be seen for months.
Circle have famously stated on their website for years:
Their statement “USDC is always redeemable for 1:1 US dollars” is now fictional. They can never claim this again as it’s simply not true.
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– UPDATE on MARCH 16, 2023 –
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References above come from IntoTheCryptoverse.com and AltcoinDaily.com and other legends on You Tube and Twitter.
