So BTC is back at 64k, bringing some green into the market to cheer people up. In reality, this does not hold much water; after all, people saw 74k just before the halving, so 64k is not exactly new.
However, 64k is green enough to make people happy, which is the primary advantage. For me, the current BTC price is still fragile, and a drop to 55k is still possible; I believe we will experience one full month of uncertainty and drops before finally taking off.
If BTC does not reach 70k, I believe it has the potential to fall. However, I believe that once BTC tests 70k again, that will be a sufficient consolidation zone. From 70k, I believe we would prime for 150 to 170k at the peak of the bull market, but I am not impressed by this price.
It is still a fragile point, and I do not think anyone should believe lambo boys on X (Twitter) who claim we are ready to take off. If we're going by history, we still have over one month to go, I understand that this market can be different, but to spare others of the hopium that's being shared on Twitter.
These guys were the first to say that we would go to zero at the slightest dip. Some of them do not even have any crypto or BTC, but they parade themselves as crypto gurus while they are simply content creators.
The reason why 70k seems so reasonable to me is that this is when the alts will start moving; the 2 to 5 cents we are seeing are not really reflective of alt season. Alt season is often closer to the peak of the BTC run, but that does not mean the alt markets will be stagnant until then.
I remember when Hive went from seven cents to more than three dollars in three months, which surprised many people. So the alt season is independent of BTC, which is why I believe BTC could reach $100k before the alt season begins. However, the moment BTC begins to move, the alt season is undoubtedly on its way.
For the time being, we are still trying to shake off the market's bearish trend. For all we know, this is still an excellent buying opportunity; however, waiting for the 70 or 80k BTC price range may not be the best option. The alts are there for picking, and there will be a point in the market will people will wish they had enough liquidity.
The bull market is a very funny period because even coins with no utility pump extremely hard, and people become outrageously wealthy out of nowhere. The alt season pumps everything in front of it, so everyone gets a taste of the market, regardless of the type of coin they are holding; the only difference is that they eventually lose all of their money when the bear market arrives and they did not take any profits.
Do You Have Enough Liquidity Or Are You Still Complaining
Basically, I believe everyone will profit from the alt season; the only question is whether this bull market cycle will outperform or at least match the previous one. Although each cycle is better than the previous one, a lot has happened in this cycle, and the only way to proceed is to watch and wait with enough liquidity to spare.
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