Will Bitcoin’s floor go below 15K? (what does history say?)

November 9, 2022

by Kenneth Holland

Today's been quite the 'jazz bath' for Bitcoin.

As I scribble this, BTC is at 15,700. Much can be attributed to its free-fall...such as:

  • Mid-term election results.
  • FTX and other Crypto shenanigans.
  • Recession and Inflation.

The answer is...

Yes.

I know, hardly a uber-technical analysis wrapped in the geo-political sphere of ultra right and left wing skullduggery...

Huh?

No, it's fairly quite simple, if for the moment:

People are scared...and don't know what to do.

This is what happens in an economic downturn with a war thrown in for good measure:

So What Does History Say?

Bitcoin history (10-11 years?) says there will be another run-up, just the like the last few cycles before it. Can you take that to the bank?

Nope.

2 things you can throw in to your ol' savings...and that's it (they start with a D and end with a T).

I DO think that Bitcoin will be fine and will have another big run-up...the next one higher than 60K. But as I pointed out in a video some years ago (5) it will take some level of regulation before the 'powers that be' trust it as a true store of value.

Remember, BTC is not about being the next currency.

It's really about it being 'the story' that hasn't even been written yet.

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