AskLEO: Will BTC go below $18k

3 mo
LeoFinance
1 Min Read
267 words

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From Ikut
I heard a rumor that BTC will go down to $18k. Many people expect like this.

Why do they expect like this?

There are many factors cause this assumption:

  1. American FED interest rate will likely to increase at the end of this quarter.
  2. Increasing price of Oil
  3. Price of Stocks and Gold are falling down
  4. All crypto market turn red
  5. Recent crash of Solana

People are now afraid of Crypto. At the same time FEC is more likely to increase interest rate at the end of this quarter. When this two factors combine people move back to Dollar.

Another problem is increasing price of Diesel. It may lead to inflation of US dollar. Another factor that cause the inflation is the after effect of coronavirus pandemic. The price of general goods are increase and this may lead to inflation of US dollar. So they try to elevated by increasing the interest rate of Federal Funds rate.

Cryptocurrency are based on the faith, certitude and conviction. It is like domino. If one falls down others will fall down. If one up others will up too. It also depends on FOMO. People are afraid to lose so they sell coins before losing too much. Cryptocurrencies are not dollar-backed. It can collapse very quickly.

I think people want to do other investment instead of crypto. This is world crisis so people need money to use in real life so they are selling off the cryptos. I am not too surprise if BTC falls below $18k.

Please share your thoughts.

Posted Using LeoFinance Beta


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Thanks Bhattg Sir.

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BTC ကိုင်မထားတော့ သူကျတာ ရင်မခုန်ပေမယ့် Hive ပါ လိုက်ကျနေတော့ အားတော့ ပျော့မိပါရဲ့။
သို့ပေသော်ငြား ဆက်စုနေရဦးမှာပဲဗျို့။
!PIZZA

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This is a time to collect Hive.

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PIZZA!

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3 mo

Btc to 18k could happen, I'm not even sure of the price right now. I'm just looking to see what happens.

Posted using LeoFinance Mobile

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3 mo

It's a good question, but it's hard to answer with certainty.

We have been through several crashes already, and actually there was no reason for them to happen except that the price had gone up too fast. There is nothing wrong with the technology or the blockchain. The price has gone up because investors believed in the technology. That belief will not disappear, and the price will go up again.

So, while we don't know exactly when the next crash will come, there is no reason to believe that it will be any worse than the previous ones.

In fact, there are signs that things might get worse before they get better. Bitcoin is currently trading at $22,600 per coin. A drop like that could easily send us into a panic. But the best way to deal with such a situation is to prepare for it.

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I sold some of my bitcoin when it first ever hit $36k. When I sold, I am planning to re-enter at $18k. So you can see how bias I am in hoping the $18k price to hit so I can re enter.

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