Bitcoin and Ravencoin Cryptos CRASH Bear Market Price Targets
Currencies / Bitcoin May 29, 2021 - 06:09 PM GMTBy: Nadeem_Walayat
Whilst my in-depth analysis is pending completion, however I have been flagging for several months that the crypto's are in a bubble that will burst / crash / plunge enter into a bear market for which we received a taste of what to expect a few days ago. So my message and strategy has been NOT to hold any meaningful amount of crypto i.e. the only crypto I have is what I have mined with a couple of existing desktop PC's and even then most of the funds generated (80%) have been SPENT because I know that the price of most of not all crypto's is going to head a lot lower.
So in response to patron requests and in advance of my more in-depth analysis on the crypto space that is about 50% complete, then here are the approx range of buying levels that I have had penciled in for Bitcoin for sometime of where I would be tempted to look at actually buying Bitcoin with fiat, though attempts to fund my Coinbase account with fiat has so far failed but I will leave that for my next analysis.
So $19k to $22k is where I would consider accumulating Bitcoin which I will develop further in my next analysis that I aim to complete before the end of this month to include a strategy of what to do during an anticipated crypto bear market, of what crypto's I will be looking to accumulate at much lower prices than where they trade today with a significant amount of holdings generated via GPU mining, but for which we have plenty of time as I expect the bear market for most crypto's to run for a good year or so from peak to trough, so I am in no rush to panic buy on chaotic price action, though saying that setting limit orders at levels well below where the crypto's are trading can and did get me filled on some more raven coins that I have been seeking to accumulate as I have flagged in several preceding articles, so very volatile price action can get one crypto's much cheaper than where they are actually trading at most of the time, that is the nature of the volatile crypto space.
Imagine all of the perma bull crypto maniac traders trading on margin who just got nuked on the various wild wild west exchanges as their stops were hit!
And remember folks crypto's for me are a low priority so frequency of articles focused on the crypto space will remain low i.e. I don't see myself ever holding more than about 1% of total assets in crypto's, people talk about parking their excess funds in crypto would instead be much better served by parking excess cash in the likes of Google!
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Topics Include:
- Invest and Forget
- Stock Market Early Summer Correction Review
- AI Stocks Strength vs Weakness
- RAMPANT MONEY PRINTING INFLATION BIG PICTURE!
- HIGH RISK STOCK BUYING LEVELS
- RISK RATINGS
- WESTERN DIGITAL - WDC $71 - CHIA! - Risk 1
- Life Sciences Biotech Smaller Cap High Risk Stocks Investing Binge
- Biotech stock 1 - Cheap Low Risk Pharma - Risk 1
- Biotech stock 2 - HIGH RISK GENE EDITING - Risk 9
- Biotech stock 3 - Low Risk 2
- Biotech stock 4 - X10 for Max Risk 10
- High Risk Stocks Portfolio Buying Levels
- Covid India Black Mold Epidemic
- Bitcoin and Raven Coin Buying Levels
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Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.
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