I’m a BTC bull and I know this will ruffle some feathers. I truly believe Bitcoin will recover and hit 100k+ next bull run in 2025. But what if the everything bubble ends up being similar to the dot com bubble.
Super Bowl had a bunch of commercials for dot com company’s right before the crash and everyone was making money left and right. We have crypto.com as an arena now and a bunch of crypto advertisements for super bowl, sports players taking BTC for salary. Clearly a euphoric time just like 20 years ago. The dot com bubble took 15 years to recover!
Clearly we’re heading towards a recession. That means stock market will drop and unfortunately BTC seems to be pegged to the Nasdaq. It took Nasdaq and amazon 15 years to reach ATH once bubble burst. Clearly we were in a bubble with interest rates low, stimulus money, people bored at home becoming new investors and the Warren Buffet indicator being the highest it’s ever been!
I have no crystal ball, I believe in the value of Bitcoin but can we not admit this is a possibility? If BTC drops below the 20K peak of last bull run it will be less attractive as a store of value for future investors and Michael Saylor, Elon and EL Salvador will be examples of why it shouldn’t be adopted.
I’m a firm believer that we bottom out at the 200 WMA and set a new all time high in 2024/2025 after next halving. But I also wanted to prepare for myself for worst case scenario which would be a 2 year bear market and a 95 percent correction (Amazon dot com bubble).
I expect this to get downvoted and I’m not posting this to cause fud. This situation wouldn’t even be so bad as I’d be able to accumulate more for cheaper prices.