The spooky truth about Bitcoin: is it a trick or a treat?

By akohad Oct31,2022



As youngsters of all ages take their lives into their baskets and buckets to collect as many (hopefully untainted) candy treats as they can, it is time to take a scary look at the crypto king — Bitcoin.

Bitcoin (BTC) has hovered around the $19,000 mark for over a month, with momentary bounces of just over $20,000.

Laurent Kssis, the crypto trading adviser at CEC Capital, says, “Prices will most likely jump again. But between these exchanges it will inevitably push BTC up and the rest of the crypto market.”

Pablo Jodar, a crypto analyst at GenTwo (a digital-asset management firm), says, “I still remain bearish in the short term, as we still need to have more visibility on signs that indicate that inflation is cooling down.”

Peter Brandt, Uber investor, said, “Investors should not expect much to change for the foreseeable future…the largest cryptocurrency by market capitalization might drop as low as $13,000. Investors are just tired.”

Not encouraging news, but not bad news either.

2022 has been a daunting year for the financial markets; it seems fitting that as Q4 (fourth quarter) rolls down the road, the crypto market is taking a little upward bounce.

The global financial world is in a Siberian winter. The fact that Bitcoin (and many other cryptocurrencies) has a positive movement is a testimony to its staying power in such financial uncertainty.

Traditional confidence in Bitcoin

*Goldman Sachs believes Bitcoin could reach $100,000.

**JP Morgan believes Bitcoin could reach $150,000

***Tim Draper, Venture Capitalist, believes Bitcoin could reach $250,000

****Larry Lepard, Founder and Managing Partner of Equity Management Associates,

Believes that Bitcoin could reach $2,000,000

Could you let me know what you think?

The Siberian winter will eventually give way to a crypto-spring, revealing the blossoming flowers of sustained price increases.

The regulation headwinds will likely keep prices from any moon shots (10x, 20x, 100x increases), but healthy gains will light up the candles (referring to candle charts) with a lot of green.

Global uncertainty will also factor into the equation and determine how significant the springtime gains will be. As Uber investor Peter Brandt said, “investors are just tired.”

What it means for everyday people

The cryptoverse remains a viable option for serious financial gains for people will small amounts of investment capital. The millionaire sprints of the past are likely gone, but the millionaire marathons are gearing up for a healthy spring.

You can do your research, find a good community to support you (one that aligns with your beliefs), and develop your (simple) strategy to get you on track.

The cryptoverse is for you. Follow along as I learn; maybe you will learn, and perhaps, together, we can explore the cryptoverse.

Disclaimer: I am an avid student of all things crypto. The cryptoverse caught my attention when COVID-19 captured the world and locked down the global economy. Since then, I have dedicated a portion of my time to learning about this currency — the currency of the future — and international business. As a writer, I have determined to journal my discoveries. I have chosen to write them in short, bite-sized articles to help anyone interested in learning about this space. These articles are not written in cryptoese or investments but are easy-to-understand articles. I am not offering advice, simply the information I discovered on my unexpected journey into the cryptoverse. There could be something for the seasoned investor to glean from reading, but my focus is on the crypto-curious.

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