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Big Correction Imminent?! - CRYPTO FRIDAY
Hey DEFI TIMES community,
Bitcoin started into the new year as strong as never before. It is about to break $30,000 for the first time in history.
At this point, we are screaming for a correction because parabolic moves always come to an end. Today, I would like to explain two scenarios I think are the most likely going forward!
1. In my opinion, the most likely scenario is that we see Bitcoin consolidating a bit. We could see Bitcoin reaching $23,000 levels again while attention is going to shift towards altcoins. Another small altcoin bubble could emerge, just like we saw in DeFi summer.
2. On the other hand, we could see a significant correction both with alts and Bitcoin. At this time, no one who has ever bought Bitcoin is at a loss, which is why many people could decide to take out profits. If this scenario plays out, I could imagine Bitcoin going below $20,000 again for a short period.
Of course, I could be completely wrong, and Bitcoin could keep pumping way beyond the $30,000 levels.
But you should definitely prepare yourself for a significant correction at the moment.
I hope you all had a fantastic New Years' Eve; see you on Sunday!
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All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.
Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.