The cryptocurrency market is looking bearish following the Fed’s announcement that interest rates will be raised, and Bitcoin is following a new U.S. stock drop, with analysts expecting Bitcoin to reach $37,500. If you’re unfamiliar with cryptocurrency market, Jet-Bot enables you copy best traders and follow all their deals automatically, using binance trading bots.
I’m going to be bringing you even more breaking cryptocurrency news as well as the ultimate crypto exit plan and how you can win big with cryptocurrency, especially all coins. This is all even if the market is going down.
Before I share with you crypto outlook, I want to share with you the Bitcoin price. It is actually going down and I could see us falling all the way down right around this 38 to 37.5 mark. We do need to hold this line of support though. This is very critical.
I’m going to be sharing with you some news quickly and also a few coins that I do have on my radar as well as a couple of NFT projects that I’ve been sharing with you some updates on because some of these are actually going up, which is kind of crazy to think about. Bitcoin and kind of the rest of the market is going down, but there’s always kind of an opportunity here and that’s what I really want to share with you. Bitcoin is retesting $40,000 after stocks sell off. It’s really important to not only be looking at the crypto market but we do need to take an overarching look at the entire global market.
You can see here we have seen a very nice sharp decline ever since we hit right around this $43,000 dollar mark again and again we did get this bounce back up.
This was a trap right around $40,000. This was a trap. We went back up to $43,000. This could be a trap and what I really want to share with you is that if you have a long term perspective, this is where you don’t plan on exiting the market tomorrow. This is where I believe Bitcoin and many other cryptocurrencies will go much higher than they are today, but you have to zoom out. That is what I really want to share with you is that all of the success that I’ve personally had with altcoins, all of the massive big gains, the 5x 10x 50 x’s, all of that majority have taken years to build. I do think that we could be in some bearish times here.
In fact, I wanted to share with you a speech from Crypto Crew University. Big shout out to him as he has some excellent technical analysis and there are a few things in the chart that have me worried short term. Let me share with you what he had to say:
‘So we mentioned the next major move is it’s not a guarantee, but these patterns almost always break to the downside. Now when you’re inside of this pattern, you should not trade the pattern until the pattern is confirmed. All right, so this is either going to break to the upside or the downside.’
As you can see, we are in this ascending channel and we have not really made a decision yet. Are we going to go above the channel or are we going to go below? Bitcoin for the last few months has just been ranging up and down in this channel. Now like crypto crew university said, there is a larger probability that we do go down.
However, this is never a guarantee and what he did say is that we should not do anything until something is confirmed, so right now we’re still getting a lot of different mixed signals and this is where I am still holding on to a majority of my cryptocurrency coins. I will be sharing with you new time-sensitive details and alerts and updates as soon as we have them. We’re in kind of this weird kind of zone where we don’t know just quite yet, but what do we know?
We know that Twitter and Stripe are rolling out a USDC payout programme for creators via Polygon. To me, this is massive news for Polygon. Here is what Stripe had to say on their official twitter: they are introducing crypto payouts. This is where creators, freelancers, sellers, and solopreneurs who are building and creating all over the world will be able to be paid out in cryptocurrency using the Layer 2 Solution Polygon.
Even with this news, the Polygon has not moved very much today. It had a nice little move up a little bit. But you can see it has dropped slightly back down and again, this is where if you just take a look at the chart, the polygon certainly can go up and down and it could definitely come all the way back down here to the 70 to 80 cents mark and in the worst case scenario. In my opinion, the 30 to 50 cent mark right here would be some support and that would be approximately 80% to 90% of its all-time highs, but the reason why I’m sharing this article with you is to show you that there is still so much happening today even in a bear market.
I think that we are in a bear market right now, or at minimum, a bare trend. However, this is where the opportunities are. Most people have forgotten about Bitcoin. They’re not talking about it anymore. In fact, the views on every youtuber channel are down significantly and this is where if you stick around in the bear market and you do your research and you actually persist through this and you actually keep paying attention, this is where you can find some incredible gains. Now I want to share with you one other altcoin and one other NFT project in this video and then give you, because you’ve been patient all the way, at the end, a crypto exit strategy to help you determine whether or not you should be buying or selling your cryptocurrency at this time.
Speaking of even more profits, Moonbirds is sitting at a floor price of $29.9 right now and the activity has been absolutely crazy. This is another project that I did share with you and it’s going to be really interesting to see how this develops. Now let’s talk about the ultimate cryptocurrency exit strategy for me.
Right now you can see that we are bouncing around, bouncing around, bouncing around and the best time to sell is at euphoria or a peak. The problem is knowing exactly when that was. Back here in November, the greed and fear index were high. It was in the greed right now. It is actually red and fearful again. Buy the red cell and the green.
You think it would be super easy to do this, but the problem is it is difficult, which is why holding for the long term is where you can get exponential gains. Let me share with you an example of this over the last year. You can see Bitcoin has been right in this range, up and down, up and down, up and down, but if you were to go back literally over a year or two ago, Bitcoin was trading at $4,000. It had a nice move from $10,000 all the way down to $4,000.
Everyone is anticipating something very similar to happen again. If that does happen, it’s really really fearful and really red. I think you can kind of figure out if that’s a good decision or not, but please understand this is not financial advice. I’m just sharing with you the charts and the data you need to do your own research and you should never risk more than you can afford to lose, but my point is that if you were to go back years ago, years ago, Bitcoin was at 10,000. In fact, it went all the way up to $20,000 before being rejected, back up to $20,000 and then off to the races we went and this is what has continued to fuel this entire cryptocurrency ecosystem. A lot of the cryptocurrency coins in the long run will not make it to the altcoins.
However, Bitcoin, Etherum, some of these other cryptocurrencies will make it, and that’s where you can make these life-changing gains. So what is the exit strategy? Then well, there’s simply a quote that says ‘if you would not hold the cryptocurrency for seven years, you shouldn’t hold it for seven minutes’, and that to me is telling you everything. Are you a long-term investor or are you a short-term investor? If you’re a long-term investor, you’ve got nothing to worry about here. Sit back, relax, and enjoy the gains as they come in the next few years, potentially when the next bull market starts, or maybe it’ll start once we break $51,000 here and we’re back up to all-time highs, and maybe at the end of the year we hit a $100,000. That’s always a possibility, but it’s looking like it’s going to go down more likely than go up at this time, so we don’t know anything yet.
But if you are a trader, somebody who wants to get in and out, use the data that you have right here to make those decisions and also, you can play both sides of the fence. I like to do that sometimes. I like to have a huddle portfolio and a trading portfolio. That way, I can be more active and these are your exit strategies, but have a strategy. That’s the key here. Long-term exit strategy means you’re not going to touch it for years. A short-term exit strategy means you’re going to jump in and jump out and depend upon these new videos and news about all the new coins. Your goal is to double, triple, or even quadruple your money. Move it into USDC, pay some bills, and then you’re off to the races. What do you think about the NFTs and all coins right now in this market? Are you bullish or bearish?
[This article is a transcription of a video made by Coin Bureau]
Original video: https://youtu.be/33dMMls3GKA ]