Mike, I'm not a big trader in BTC. I mainly use it to deposit/withdraw from my books. This may be a dumb question but...
I've read crypto moves opposite of interest rates. If the Fed Reserve continues raising interest rates to tame inflation, won't crypto continue to fall more? I read somewhere it may hit 20k by EOY.
Not a dumb question at all buddy. This crypto world is complex. I think that FED right now is totally fucked after the huge money printout in the first year of the pandemic. Now, there are two ways of looking at it and tbh I like Ck's move at 44k. If you want to trade to make some profit on the short term then it's def not a good time for trading and I would stay put.
On the other hand Im trying to accumulate as much as possible for the mid to long run which is why dip time is like xmas to me so right now that im below my target floor im buying and hodl. Eventually went it goes back up, sell about 5 to 10% as it hits price targets like 40k and then 45k.
All the EOY projections I tend to be cautious cause there are too many variables imo. So yeah, a lot of it depends on you banking on it or using it to store wealth. both are totally legit and Ive traded with some alt coins buyt I just love btc too much
