I feel like a lot of people around me are trying to map out the early-2023 bull-market trend, but I don’t think there’s much chance of breaking below that 70,000–75,000 support level. Here’s why 2023 could play out this way:
- March 3: Silvergate Bank, which had many crypto clients, began winding down, and Coinbase started cutting ties with it;
- March 7: In testimony before Congress, Powell said inflation remained stubborn and that interest rates might need to go higher and stay there longer;
- March 8: A bank run began at Silicon Valley Bank, which was then taken over by regulators, making it one of the largest U.S. bank failures since 2008;
- March 10: Circle disclosed that it had around $3.3 billion deposited at SVB. The USDC depeg worsened, and it briefly fell to around $0.87;
- March 11: Another crypto-related bank, Signature Bank, was also shut down by regulators;
I’m not saying another black swan event like this is completely impossible—just that the odds are very low..... My current view is that if today isn’t the bottom, then we’ll probably dip to around 78,000–79,000 sometime in the next couple of days, and that should be about it.
What I think is more worth looking back at is how, during the last bull market’s early stages, BTC bounced back from a pullback and surged 45% in just two weeks, despite rate-hike fears and all those black swan events.
Early bull markets always soar amid FUD. Treasure the chance to build a position at low levels—don’t get shaken out by a little volatility just as the new bull cycle is about to begin.
#跟着锦鲤学打百倍金狗 $币安人生
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- March 3: Silvergate Bank, which had many crypto clients, began winding down, and Coinbase started cutting ties with it;
- March 7: In testimony before Congress, Powell said inflation remained stubborn and that interest rates might need to go higher and stay there longer;
- March 8: A bank run began at Silicon Valley Bank, which was then taken over by regulators, making it one of the largest U.S. bank failures since 2008;
- March 10: Circle disclosed that it had around $3.3 billion deposited at SVB. The USDC depeg worsened, and it briefly fell to around $0.87;
- March 11: Another crypto-related bank, Signature Bank, was also shut down by regulators;
I’m not saying another black swan event like this is completely impossible—just that the odds are very low..... My current view is that if today isn’t the bottom, then we’ll probably dip to around 78,000–79,000 sometime in the next couple of days, and that should be about it.
What I think is more worth looking back at is how, during the last bull market’s early stages, BTC bounced back from a pullback and surged 45% in just two weeks, despite rate-hike fears and all those black swan events.
Early bull markets always soar amid FUD. Treasure the chance to build a position at low levels—don’t get shaken out by a little volatility just as the new bull cycle is about to begin.
#跟着锦鲤学打百倍金狗 $币安人生
Follow Web3 Koi Diary, and watch the coins you buy go 10x