Crypto currency investors have been going through such challenging times that the bullish period in 2021 has been completely forgotten. It has been replaced by fear and panic. After two years of attempted rallies, the price of BTC, which has experienced significant drops, has turned this into a rule, especially in the past few months. That’s why more investors now prefer to stay on the sidelines and watch.
When to Buy Crypto Currency?
It shouldn’t be surprising that you can be wrong in your predictions since you can’t see the future. If anyone could accurately predict what would happen in the markets, we would probably be unaware of it, and they would be living a good life with this ability.
However, some historical patterns have the potential to repeat in Bitcoin‘s price. The reason for this is that investors shape their positions considering this potential repetition, and the price follows them.
Popular crypto currency analyst Moustache drew attention to this in his latest market evaluation. He said that it might be the right time to buy Bitcoin and indirectly crypto currency.
“This is Bitcoin’s monthly chart you see. Buying BTC below the EMA 50 line is the best opportunity in the entire cycle.
The second-best opportunity is the retesting of this line. I think time is running out. I’m excited for what’s coming.”
Crypto Bull in 2024
We will witness many important events concerning the crypto currency markets in 2024, such as the possibility of ETF approval, halving, and many other important developments. However, next year, the course of the market will largely be determined by global monetary policy. We see a Fed that is contrary to the extreme optimism in 2021, filled with extreme negativity.
If the Fed is trying to do the opposite of what it did in 2021, that’s great. However, if it continues to tighten and only reduces interest rates by 50bp in 2024, it means that impressive rises will not occur for crypto currencies.
The rule for crypto currencies is simple. When risk markets rise, money becomes cheap, and crypto currencies start to rise. If money is valuable and people spend a larger portion of the money they receive on food instead of investing, and those who have money turn to safer options like government bonds, the rise of crypto currencies is not expected.
