Seems like BTC is in a similar position chart wise as it was in 2018.
With some notable differences such as:
- in 2018 vs now we had multiple retests of the 6k demand before finally nuking it in November vs now in 2022 we only properly tested the 20k area 2 times
- market and overall macro conditions were very different, crypto was still a joke largely with no material interest from the TradFi while macro conditions were considered a bull market
And with some uncanny similarities, such as:
- we are in the same stage of the BTC cycle
- same month and with equal conditions for things to get worse as we approach year end
- and yes the FED was tightening back then as it is at the present time
What is reasonable expect in the future:
- reversal of the FED policy in 2023 as it did in 2019 ?
- in 2023 as in 2019 entering the last 12 month stretch before BTC halving in March 20, 2024 vs May 11, 2020
With some notable differences such as:
- in 2018 vs now we had multiple retests of the 6k demand before finally nuking it in November vs now in 2022 we only properly tested the 20k area 2 times
- market and overall macro conditions were very different, crypto was still a joke largely with no material interest from the TradFi while macro conditions were considered a bull market
And with some uncanny similarities, such as:
- we are in the same stage of the BTC cycle
- same month and with equal conditions for things to get worse as we approach year end
- and yes the FED was tightening back then as it is at the present time
What is reasonable expect in the future:
- reversal of the FED policy in 2023 as it did in 2019 ?
- in 2023 as in 2019 entering the last 12 month stretch before BTC halving in March 20, 2024 vs May 11, 2020