Anyone who has compared bitcoin cycles knows that BTC is at that historical moment in the cycle where a strong rise is about to begin. So why are some “prophets of doom” now coming forward, predicting a sharp fall in bitcoin, which could lead to the price of the currency falling below $40,000 or even below $30,000, as some have predicted?
As we are seeing at the moment, such catastrophic predictions have not come close to coming true, with Bitcoin experiencing a significant rise in the last week.
Are these “prophets of doom” now reflecting on why their predictions were so wrong? I wouldn’t bet a single dollar on it. But I’ll bet they’re happy to have bought cheap bitcoin from the naive people who believed in the disaster they predicted and, in a panic, sold their bitcoins at any price.
Since there was no concrete reason to predict such a sharp drop in bitcoin, some of these prophets, like Arthur Hayes, went so far as to say that bitcoin would fall sharply because of the FED's interest rate cut (!?), which is truly absurd, since anyone with at least two neurons in their brain knows that it is exactly the opposite, that is, that the FED's interest rate cut will be quite positive for bitcoin and the crypto market in general.
The conclusion I have reached is: don't trust anyone's predictions and keep following your strategy. Don't trust the prophets of doom who always say that "bitcoin is going to zero now", and don't trust the prophets of euphoria who always say that "bitcoin is going to the moon now". They may all be trying to trick you, either to make you sell cheaply or to make you buy more expensively.
And don't trust me either. Do your own research and check whether what I post here makes sense or not. Do this also before buying or selling your bitcoins. Never act solely based on anyone's opinion, prediction or prophecy.
Be especially careful with analyses from so-called “renowned experts” or “renowned analysts.” The greater someone’s power to influence the market with their predictions and opinions, the greater the chance that this power will be used for their own benefit, even if it means harm to other people. #DYOR. #HODL" #BTC☀️
